Platform Specialty Products Corporation has announced that it has agreed to sell Arysta LifeScience to UPL Corporation Ltd. UPL and Arysta aim to form a new solution-oriented company with complete offerings in a wide range of crops. The transaction is expected to close in late 2018 or early 2019.
Jai Shroff, CEO of UPL, said: “Arysta has unparalleled expertise in developing tailored, specialized local applications and complements our diversified crop-protection and post-harvest solutions. Together, as ‘New UPL’, we can fulfill our mission to be the premier global provider of total crop solutions designed to secure the world’s long-term food supply.”
Diego Lopez Casanello, President of Arysta, said: “Today’s announcement is a huge vote of confidence in Arysta and its team. Both businesses are greatly complementary. The scale and capabilities of the new company will generate significant value for growers, distributors and innovation partners. This transaction marks the beginning of an exciting new chapter.”