UPL Acquires Colombian Company
20 February 2008 United Phosphorus Ltd. (UPL) has acquired Colombia-based Evofarms Group, a generic crop protection product marketing company, according to The Business Standard.
The company has entered into a share purchase agreement which includes all stocks, product registrations, and all other property rights associated with the business of Evofarms through a subsidiary.
“The acquisition is an all-cash offer and United Phosphorus will fund this through internal accruals,” a company release said. Evofarms has several product registrations in Colombia and a distribution network covering more than 100 customers.
This is UPL’s second acquisition in Latin America this financial year, after purchasing Icona in July 2007.
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