UPL Global Limited, the UK-based step-down subsidiary of UPL Limited, signed a share subscription agreement to acquire a 49% stake in Thailand’s Grow Chemical Co Ltd. The deal represents a cash infusion of $0.76 million into fresh equity capital of the Thai company. UPL expects the transaction to close on or before December 31, 2025, subject to customary approvals.
Grow Chemical’s Market Presence
Founded in 2011 as a wholly-owned subsidiary of Baka Company Ltd, Grow Chemical operates in the agri-input sector, supplying chemicals, fertilisers, herbicides, insecticides, fungicides, and plant nutrients. The company reported revenue of $7.4 million in FY24, compared with $8.8 million in FY23 and $9.5 million in FY22, indicating a slowdown in recent years.
Strengthening Agricultural Innovation in Thailand
UPL Global highlighted that the partnership with Baka will accelerate the development of innovative and sustainable agriculture solutions in Thailand. The collaboration will focus on joint R&D, distribution, and marketing initiatives. It also working to expand the product portfolio and secure regulatory approvals in line with Thailand’s farm development goals.
Strategic Significance for UPL
The acquisition underlines UPL’s broader strategy of expanding its footprint in Asia. It aligns with regional players to deliver next-generation solutions. As reported by indiainfoline.cm, the partnership combines UPL’s global expertise with Grow Chemical’s local market presence. It aims to create stronger growth opportunities and advance sustainable agricultural practices.
