M&A

M&A

Safex Chemicals acquires agri-chemicals maker Shogun Lifesciences

Economic Times  

Delhi-based agrochemical company Safex Chemicals has acquired Gujarat-based Shogun Lifesciences. The target is in the business of manufacturing aluminium phosphide and zinc phosphide, with manufacturing facilities near Ahmedabad. Aluminium phosphide is a vital and sole molecule used for the safe storage of food grains and fumigation of storage spaces. Zinc phosphide is used for the control of rats which causes extensive crop damage, destroys stored food grains, and spread bubonic plague. The deal has been routed through Safex's wholly-owned subsidiary Shogun Organics, a Pune-based manufacturer of home care active Ingredients, now expanded to produce agrochemical active ingredients. Shogun Organics itself was acquired by Safex, a year back.

From the Venture Intelligence PE-VC Deal Database: In Mar-21, Safex Chemicals had raised $50-M from ChrysCapital. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)