Arysta LifeScience is under new ownership as former parent company Platform Specialty Produces sold it for $4.2 billion to UPL Limited. The transaction was first signed in July 2018, and today’s completion marks a major step in UPL’s history.
“We’ve been working hard to get to today,” says Vicente Gongora, UPL region head, North America. “We finally got all the approvals and closed. It’s an exciting time for us. We will be among the top five global companies in the agriculture industry.”
UPL has a long-term vision to be a world leader in the global food network. To achieve this goal, the company launched “OpenAg,” which stands for open-minded and win-win partnerships that create value in the wider food production network. UPL says its acquisition of Arysta further strengthens its position as a global leader with about $5 billion in combined sales.
“We [Arysta and UPL] are very complementary in geographies and crops,” Gongora says. “We will approach our customers with solutions and help them understand what they can expect from us. We understand their pain points and needs, and the companies together provide a comprehensive portfolio in most crops from seed treatments to harvest.”
The deal gained unconditional regulatory approvals from authorities across the globe. The company says integration is running ahead of plan and the management team is focused on value creation and securing synergies post-close.