UPL concludes SinAgro acquisition
UPL has completed the acquisition of a 40% stake in Brazilian farm inputs distributor SinAgro Produtos Agropecuarios. The Brazilian company is based at Primavera do Leste in Mato Grosso state. The deal was agreed in March. Last year, UPL sold its half of the joint venture, Sipcam UPL Brasil, to its partner, Sipcam, allowing it to focus on its other national concern, UPL do Brasil. It has increased its holding in the company. SinAgro is to split into divisions, one as SinAgro Produtos Agropecuarios, focusing on agricultural inputs. SinAgro posted sales of R$1,500 million (US$470 million at the current rate) last year, media report.