UPL completes acquisition of Yoloo Biotech
Agrochemical manufacturer-UPL Limited has informed the bourses that the company has completed the acquisition of Yoloo (Laoting) Bio-technology Co. Limited.
On November 14, 2019, UPL had entered into a definitive agreement to acquire 100 per cent shares of Yoloo (Laoting) Bio-technology. The deal was amounting to USD 13.3 million (~Rs 95 crore).
Yoloo (Laoting) Bio-technology is an agrochemical company based in China. It manufactures and distributes crop protection products in China.
This acquisition would help UPL Limited to further expand its geographical reach, apart from widening its portfolio. Currently, company’s geographical revenue mix stood at Latin America-47 per cent, Europe-nine per cent, rest-of-the-world (ROW)-21 per cent, North America-14 per cent and India-eight per cent. Meanwhile, ROW stands for China, Russia, Brazil, South Africa, Australia and Turkey.
Looking at the financial performance in the recent quarter-Q3FY20, the revenue of UPL grew by seven per cent and EBIDTA grew by 22 per cent, respectively on YoY basis.
In today’s trading session, the stock of UPL jumped nearly six per cent and made an intraday high of Rs 369.90 on BSE.