UPL Limited, through its step-down subsidiary UPL Global Limited (United Kingdom), has announced that it will acquire a 49% stake in Grow Chemical Co Ltd, a Thailand-based agrochemical company. The acquisition will be executed by subscribing to fresh equity shares worth USD 0.76 million, with completion expected on or before December 31, 2025.
Grow Chemical Co Ltd, incorporated in 2011 as a subsidiary of Baka Company Ltd, is engaged in sourcing and selling agrochemicals, fertilizers, herbicides, insecticides, fungicides, and plant nutrients in Thailand. Over the past three financial years, the company reported turnovers of USD 7.4 million (FY24), USD 8.8 million (FY23), and USD 9.5 million (FY22).
The deal is not a related party transaction and does not require additional regulatory approvals. Through this partnership, UPL Global and Baka aim to strengthen innovation and deliver sustainable agricultural solutions tailored for Thailand’s farmers. The collaboration will leverage UPL’s global expertise in crop protection alongside Baka’s strong market presence and operational capabilities.
Post-investment, Grow Chemical will focus on expanding its product portfolio, accelerating regulatory approvals, and driving growth in Thailand’s agrochemical sector. The emphasis will remain on promoting sustainable farming practices aligned with the country’s agricultural development goals.
