Safex Chemicals acquires UK's Briar Chemicals for 73 million pounds

New Delhi: Agro-chemical firm Safex Chemicals India Ltd on Tuesday said it has acquired UK-based Briar Chemicals for 73 million pounds to expand its business globally.

Briar Chemicals is the UK's leading agrochemicals Contract Development and Manufacturing Organisation (CDMO).

In a statement, Safex Chemicals said that it has acquired Briar Chemicals from Germany-based investment firm AURELIUS Equity Opportunities for GBP 73 million.

Safex is backed by private equity firm ChrysCapital.

Neeraj Jindal, Director of Safex, has joined the Board of Briar Chemicals and will steer the future growth of the company.

Piyush Jindal, Director of Safex, said the company has entered the UK market through this acquisition.

"The addition of Briar to Safex's crop protection business strengthens our position in the global agrochemicals market," he said.

Founded in New Delhi in 1991, Safex manufactures and supplies crop protection chemicals.

Briar is Safex's first overseas acquisition.

"Acquiring Briar Chemicals will fast-track Safex into becoming a fully integrated company, present in all industry verticals," said SK Chaudhary, Founder Director of Safex.

In addition to providing equity, ChrysCapital will work with management on the transition and integration of the acquisition.

Safex Chemicals has six manufacturing facilities located across India.