Rossari Biotech Limited has agreed to acquire Unitop Chemicals Private Limited

Rossari Biotech Limited ("RBL" or "Company") has agreed to acquire 100% of the total equity share capital (on a fully diluted basis) of Unitop Chemicals Private Limited ("Unitop"), in multiple tranches, from all the existing shareholders of Unitop, subject to completion of customary terms and conditions precedent.

Unitop Chemicals Private Limited ("Unitop") is a private limited company primarily engaged in the business of manufacturing of surfactants, emulsifiers and speciality chemicals.

The aggregate cost of acquisition is INR 421,00,00,000 (Indian Rupees four hundred and twenty one crores only), payable in multiple tranches and subject to certain post completion adjustments, in accordance with the terms and conditions set out in the SPA.

The acquisition of the shares of Unitop is in line with the Company's strategy to establish the Company's leadership in the manufacturing of speciality chemicals as part of our inorganic growth strategy. The Company has identified Unitop as a suitable acquisition target because it is a financially healthy organization with a product range that falls within the Company's four pillars of chemistry (surfactants, acrylics, silicones and enzymes).

Unitop provides an opportunity for synergies m manufacturing and marketing that can be highly value accretive over the long run.

Source : Equity Bulls

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