Coromandel International to acquire a 53% majority stake in NACL Industries for INR 8.2bn.

Coromandel International, an Indian agri-solutions provider, agreed to acquire a 53% majority stake in NACL Industries, an Indian agrochemical company, for INR 8.2bn. "This acquisition will strengthen Coromandel’s presence in Crop protection business both in domestic and export markets. Coromandel will leverage its management expertise, credit access, sourcing capabilities, and diversified presence in international markets to strengthen NACL’s operations in a short period and create value for the shareholders. With the combined synergies in R&D and manufacturing, we can accelerate our Go to market strategy for new products and intermediates, thereby increasing our product offerings in domestic and global markets," S. Sankarasubramanian, Coromandel International Managing Director and CEO.