UPL Corporation, a wholly-owned subsidiary of UPL, has announced its decision to acquire Industrias Bioquim Centroamericana Sociedad Anonima (IBC) and a cluster of group companies, collectively known as the Bioquim Group. 

 

The company has already signed a definitive agreement for the deal, and the transaction is expected to be closed upon meeting the routine closing conditions and regulatory approvals, including antitrust approval in Costa Rica. 

 

IBC operates in the agricultural solutions industry. The Bioquim Group is involved in producing, selling and marketing of agrochemicals and crop protection products in Costa Rica and in several countries across the Caribbean and Central American regions. 

 

The purpose of the acquisition, which is scheduled for completion in the first half of the calendar year 2019, is to enhance UPL’s market share in these regions. The combined products of UPL and Bioquim will facilitate the availability of the best solutions to farmers.