PI Industries witnessed a more than 5% jump in its share price during early trading on Thursday following the announcement of its acquisition of UK-listed Plant Health Care Plc (PHC). The acquisition, valued at approximately 32.8 million pounds, will be executed through PI’s wholly-owned international subsidiary using cash from earlier Qualified Institutional Placement (QIP) proceeds.
Strategic Rationale
According to PI Industries, the acquisition of PHC aligns with its long-term strategic goal of enhancing its portfolio with integrated solutions for sustainable agriculture. PHC brings advanced biological and peptide technology platforms in the “Plant Immunity Inducers” sector, complementing PI’s existing portfolio of 8 products with several more in development and registration phases. The company reported a 29% increase in revenue from biological products in FY24.
Executive Insights
Rajnish Sarna, Joint Managing Director of PI Industries Ltd., emphasized that the acquisition is a strategic move aimed at unlocking long-term value and accelerating growth through synergies between the two companies.
Disclaimer: Investors are advised to seek professional advice before making investment decisions.
