Publish Date : 02.10.20

Japanese conglomerates Mitsui and Nisso jointly acquire 56% stake in Bharat Insecticides Limited in India

Bharat Insecticides Limited, a company specializing in agrochemical products, is now associated with Mitsui & Co., Ltd., ("Mitsui", Head Office: Tokyo) and Nippon Soda Co., Ltd., (“Nisso”, Head Office: Tokyo). Mitsui and Nisso have acquired a 56% stake in BIL through a special purpose company co-founded by Nisso and Mitsui. The BIL’s promoters will continue to hold balance shares in BIL. As a result of this transaction, BIL has become a group company of Mitsui & Co., Ltd.

The new relationship with Mitsui and Nisso will further strengthen BIL’s ability to deliver innovative crop protection products and support the sustainable growth of India’s agriculture sector. Speaking on the announcement, Mr Sat Narain Gupta, Founder Promoter, BIL said, “This is a momentous occasion for us, BIL was started 43 years back with just 2 products and since then, BIL has come a long way. We hope that being part of the Mitsui group will take BIL to the next level.”

The other promoters, Mr MP Gupta and Mr RP Gupta expressed their excitement on this development and are confident that this tie-up will help BIL to grow at a faster pace. On this occasion, Mr Dharmesh Gupta, who has assumed responsibility as Managing Director, BIL said, “BIL’s strong presence in the agrochemical market in the country will be complemented by Mitsui and Nisso’s diverse experience in the agriculture space. With this alliance, BIL will be in a unique position to leverage the synergies in the area of product development with access to Mitsui’s global assets and Nisso’s world-class R&D capabilities.

The alliance will not only help BIL to grow in the domestic market but will also enable it to expand its presence in international markets”. “Although Mitsui has been active in the rapidly growing Indian agrochemical industry, this investment into BIL provides us with the exciting opportunity to contribute to mainstream manufacturing and distribution of plant protection products in India. Japan and India share a strong cultural and business relationship and in the same spirit, we are committed to bringing more products and technologies to Indian agriculture through our global footprint. BIL, through its aggressive business approach, committed employees and strong industry relationships allow us to gain a strong base in India as India expands its influence on the global agrochemical industry,” said the MD of BIL.