Safex Chemicals India Ltd on Wednesday announced the acquisition of Mumbai-based chemical maker Shogun Organics for an undisclosed amount. The acquisition will provide Safex with a platform to backward integrate the agrochemical technical segment and enter the home care and agrochemical technical manufacturing segment, the company said in a statement.
Meanwhile, the promoters of Safex — SK Chaudhary, Neeraj Jindal, Rajesh Jindal and Piyush Jindal — will join the board of Shogun Organics, it added.
Commenting on the deal, Safex Chemicals Director Piyush Jindal said, “We intend to leverage Shogun’s existing infrastructure to backward integrate into the agrochemical technicals segment and expand into the agrochemical exports market”.
Home care technicals is an attractive market and Shogun has consistently maintained more than 50 per cent market share in the segment. “We believe there are strong synergies between the two companies..,” he added.
Founded in 1991, Safex Chemicals is into manufacture and sale of crop protection products across India.
