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Pesticide manufacturer Safex Chemicals India has acquired UK’s Briar Chemicals for 73 million pounds to expand its footprint overseas, according to a company announcement. It is Safex’s first overseas acquisition and second in 2022 after the take over of Gujarat’s Shogun Lifesciences in February.
Safex Chemicals, which is backed by private equity firm ChrysCapital, said that it acquired the UK company by buying the equities of Germany-based investment firm AURELIUS Equity Opportunities. Briar Chemicals is a leading agrochemicals Contract Development and Manufacturing Organisation (CDMO) in the UK.
“The addition of Briar to Safex’s crop protection business strengthens our position in the global agrochemicals market,” said Piyush Jindal, Director of Safex Chemicals. Acquiring Briar Chemicals will fast-track Safex into becoming a fully integrated company, present in all industry verticals, said SK Chaudhary, founder director of Safex.
Safex Chemicals, started in 1991 in Delhi, has six manufacturing facilities located across India. ChrysCapital will work with Safex management on the transition and integration of the acquisition, the company said in a statement.
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