UPL Limited today announced new leadership appointments for the merged entity comprising UPL and Arysta LifeScience Inc. The appointments will be effective upon the completion of the proposed transaction, while the completion of the proposed transaction is subject to obtaining various regulatory approvals and the satisfaction of other customary closing conditions.
The new executive team will be led by Jai Shroff, Global CEO of UPL Limited and a well-known global leader in the Agri-Inputs industry with over 30 years of experience in India and globally while transforming UPL into one of the fastest-growing agri-input companies in the world with strong presence in the Seeds, Plant Nutrition, Crop protection and Post-harvest food preservation value chains.
UPL had, on July 20, 2018, announced that its wholly-owned subsidiary UPL Corp had signed a definitive agreement with Platform Specialty Products Corporation (NYSE:PAH) to acquire Arysta LifeScience Inc. and its subsidiaries (collectively “Arysta”). The vision for the “New UPL” is that it presents a huge opportunity to transform agriculture, enhance the lives of the farmers and grow the world’s food supply sustainably, UPL stated.
“Our new UPL is a game-changer, with the ambition to reshape the industry by revolutionizing the agribusiness through innovation to enhance the life of farmers worldwide. The coming together of UPL and Arysta will be transformative not only for growers, but will open new opportunities for partners and customers across the entire agriculture and food chain. New UPL will also be a leader in bio-solutions and is committed to achieving sustainable growth for the world,” the release stated.
Envisioned as an agile organization, “New UPL” will leverage the strengths that both UPL and Arysta bring to this entity. The leadership structure is strategically designed to allow the organization to deliver impact on both short- and long-term horizons. The leadership will continue to focus on being customer-centric, leverage its expertise in manufacturing, innovation and strategic partnerships to deliver innovative solutions to farmers to enhance their sustainability and profitability.
UPL Limited is one of the leading global crop protection products companies headquartered in India with its stock being publicly traded on the BSE and NSE, current market capitalization of ~US$5.3 billion, as of October 31, 2018 and UPL Limited reported operating revenue of US$2.7 billion and EBITDA of US$543 million for FY 2018.
UPL Corp is the operating company that leads the international operations of UPL Limited across the world and, since its inception in 1993, has expanded its production and distribution footprint through its subsidiaries internationally with a diversified crop protection and post-harvest solution business through an established presence and leading market position in major agricultural regions throughout the world.