Briar Chemicals in the UK is purchased by Safex Chemicals for 73 million pounds
Leading agrochemical Contract Development and Manufacturing Organization in the UK is Briar Chemicals (CDMO).
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Agrochemical company Safex Chemicals India Ltd. said on Tuesday that it had bought Briar Chemicals of the UK for 73 million pounds in order to grow its operations internationally.
Leading agrochemical Contract Development and Manufacturing Organization in the UK is Briar Chemicals (CDMO).
In a statement, Safex Chemicals announced that it has paid GBP 73 million to buy Briar Chemicals from German investment company AURELIUS Equity Opportunities. ChrysCapital, a private equity firm, supports Safex.
Neeraj Jindal, Director of Safex, has joined the Briar Chemicals Board and will direct the organization's future expansion. According to Safex Director Piyush Jindal, this acquisition has given the company access to the UK market.
Our position in the international agrochemicals market is strengthened by the addition of Briar to Safex's crop protection business, he added. Safex is a manufacturer and supplier of crop protection chemicals that was established in New Delhi in 1991.
Briar is Safex's first foreign purchase. According to SK Chaudhary, founder and director of Safex, "the acquisition of Briar Chemicals would expedite Safex's transformation into a fully integrated firm, present in all industry verticals."
ChrysCapital will assist management with the transition and integration of the purchase in addition to contributing equity. Six manufacturing plants owned by Safex Chemicals are dispersed throughout India.
