UPL Limited announced that its step-down subsidiary, Advanta Holdings B.V. (“Advanta BV”), is acquiring Hytech Egypt USA LLC (“Hytech USA”), which controls Misr Hytech Seed International S.A.E. (“Hytech Egypt”). This strategic acquisition for approximately US$110 million positions Advanta for immediate leadership in the Middle East and Africa’s white and yellow corn seed markets, a rapidly growing sector.
Strategic Acquisition in MENA Seed Market
UPL Limited has confirmed a significant strategic acquisition through its step-down subsidiary, Advanta Holdings B.V. (Advanta BV). Advanta BV will acquire Hytech Egypt USA LLC (Hytech USA), the holding company for Misr Hytech Seed International S.A.E. (Hytech Egypt), an Egyptian entity operating in the agricultural seeds industry. This transaction is valued at approximately US$110 million, subject to the terms and conditions outlined in the Equity Purchase Agreement.
Market Expansion and Leadership Position
The acquisition is characterized as a strategic platform move, aiming to establish Advanta with an immediate leadership position in the Middle East and Africa’s white and yellow corn seed markets. These regions represent one of the largest and fastest-growing seed markets globally. Upon completion, Advanta BV is expected to hold 99.98% of the shareholding in Hytech Egypt, solidifying its market presence and operational capabilities in these key territories.
Transaction Details and Outlook
Hytech Egypt, incorporated on September 25, 1993, has reported turnovers of approximately US$34.9 million in FY 2023, US$37.6 million in FY 2024, and US$25.7 million in FY 2025. The transaction is not considered a related party transaction, as UPL Limited effectively holds 78.21% shareholding in its own Seeds and Post Harvest segment platform, Advanta. The completion of the acquisition is anticipated on or before January 31, 2027, pending necessary anti-trust approvals from COMESA Competition and Consumer Commission and the Egyptian Competition Authority.
Source: BSE
