UPL Buys Controlling Stake in DVA Brazil

Posted by |27 July 2011

Agro-chemicals major United Phosphorus Ltd. (UPL) has acquired 51 percent stake in the Brazilian firm DVA Agro Brazil for $150 million from Germany’s DVA Group and other shareholders, UPL said in a statement.

DVA Agro Brazil, with a net revenue of $130 million in 2010, is engaged in the production and marketing of crop protection products. It has a formulation plant in Brazil and is undergoing expansion.

“This marks our second entry into the Brazilian crop protection market. DVA Agro Brazil’s distinguished crop focus gives UPL access to a larger addressable market in Brazil,” said UPL Global CEO Jai Shroff.

According to DVA Agro Brazil General Manager Carlos Pellicer, the company intends to grow faster than the overall market over the next few years with the help of UPL.

“With UPL, we will further develop solutions that provide higher value added to our clients, while at the same time, considerably broaden our existing portfolio,” DVA Group CEO Matthias Damm said.