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Valagro enters the biological pesticide sector and strengthens its commitment to providing its customers with sustainable solutions for enhanced crop productivity
Valagro S.p.A, a global leader in the production and commercialization of biostimulants and specialty nutrients, announced that it has reached an agreement to acquire a majority stake in the Indian biopesticide company Sri Biotech Laboratories India Limited. SriBio, nationally recognized for its contribution to the development of environmentally sustainable, biological alternatives for pest, weed and disease control in agriculture.
Mr. Giuseppe Natale, CEO of Valagro, commented: "For last two decades, SriBio has made research the focus of its attention. Valagro has always been a company driven by research and we believe that the synergies that will emerge from this transaction will bring considerable benefit to Valagro and its customers. In particular, we believe that our entry into new market segments such as fermentation and our reinforcement in a strategic geography such as the Indian subcontinent will help position us at the forefront of key growth trends in world agricultural production while at the same time further consolidating our presence in the Pacific region”.
Founded 1994, SriBio has developed eco-friendly solutions for addressing key pest/disease affecting farmers in the Indian subcontinent through its innovative research and multiple national and international partnerships. The company is engaged in research in the areas of crop improvement, crop nutrition and crop Protection serving over 10 million farmers across 13 States in India and it invests about 3.5 % annually in R&D. In addition to its own manufacturing facilities in Hyderabad and Guntur, Sri Biotech is the first company to register Bio-Products with The Central Insecticides Board. Sri Biotech has twenty organically certified products by APEDA through Vedic Organic Certification Agency.
Dr. K.R.K. Reddy, founder and CMD of SriBio, who will continue with the company commented: "Users of our solutions are usually farmers, very advanced in use of advanced technologies for optimizing agricultural production. I am convinced that the acquisition by Valagro, of a company that has always been attentive to environmental sustainability like us, will enable us to achieve innovative synergies and will benefit both. With this acquisition - concluded Dr. KRK Reddy - the company will extend the reach of its innovative Biologicals with Valagro's Global presence."
This acquisition, in addition to confirming the strong financial position of the Valagro group, also represents one of the most significant outbound investments announced by an Italian company so far in 2015.