Dhanuka acquires distribution rights of Iprovalicarb and Triadinenol fungicides from Bayer AG

This landmark acquisition grants Dhanuka access to markets in over 20 countries spanning from LATAM, EMEA, ASIA, and India.

India’s leading agri-input company, Dhanuka Agritech Limited, has successfully concluded its Rs 165 crore strategic acquisition deal for international rights to foray into global markets and distribution of its two prominent fungicides, Iprovalicarb and Triadinenol from Bayer AG. This landmark acquisition grants Dhanuka access to markets in over 20 countries spanning from LATAM, EMEA, ASIA, and India. Bayer AG, a global leader in agriculture input solutions and farming innovations, invented these products.

With this acquisition, Dhanuka Agritech strengthens its position as a rising player in the agri-input industry by combining trusted brands with its robust manufacturing and distribution capabilities.

This acquisition underscores Dhanuka’s ambition to transform from a domestic agrochemical leader into a globally recognized brand. Dhanuka will leverage this acquisition to tap into the pre-established customer base across multiple regions. To enhance cost efficiencies and scalability, Dhanuka plans to transition its manufacturing operations for Iprovalicarb to its Dahej facility within the next 2-3 years.

This deal also brings insights to Dhanuka’s market-driven approach. They are poised to revitalize Iprovalicarb and Triadinenol, both of which experienced a sales decline in recent years. The company’s strategy includes leveraging marketing strength and its existing distributor network to revive demand and regain market share.

“This acquisition is a turning point for Dhanuka as we enter the international markets with Bayer AG’s trusted brands. Our focus is on creating cost-effective crop solutions that resonate with farmers worldwide. In 2023 the revenue from these products was 220 crores. We are targeting an EBITDA margin of 12-15% post-integration from these products. While in FY26 the revenue generation would start in India by Q1 and is expected to expand internationally, with full control of operations by Q4.” said Harsh Dhanuka, Executive Director, Dhanuka Agritech Ltd.

Dhanuka has also shared further market insights on the two acquired ingredients that the existing market share of Iprovalicarb is 50 per cent with very limited generic competition, hence, giving them a competitive advantage. While Triadinenol has a strong foothold in the Brazilian markets with market share between 20-25 per cent. Brazil being a high-barrier market, proves to be critical for sustained growth.

Looking forward, they intend to move with a global B2B model where they collaborate with local distributors in the international markets and take advantage of Dhanuka’s existing robust network in India. This move also strengthens India’s position in the market as a hub for agrochemical production boosting the initiative of ‘Make in India’.

Dhanuka Agritech’s acquisition of Iprovalicarb and Triadimenol rights enhances its product portfolio and marks a critical step toward establishing itself as a global agrochemical powerhouse especially in horticultural crops. By aligning its operational efficiency with the products’ legacy, Dhanuka is set to deliver long-term value to farmers worldwide.

This landmark acquisition grants Dhanuka access to