FMC Corp to sell India crop protection business to Crystal for USD 252 mn

Crystal Crop Protection is well-positioned to serve Indian farmers with FMCs portfolio of innovative technologies, said Pierre Brondeau, FMCs chairman, chief executive and president, adding that the company would support Crystals growth through the supply agreement.

FMC Corporation on Thursday said it would sell its India commercial business to Crystal Crop Protection Ltd for US 252 million, as the US agricultural sciences company looks to reduce debt and refocus resources on higher-growth markets. The deal, under which FMC has signed a definitive agreement, is subject to regulatory approval and customary closing conditions, including adjustments for cash, debt and working capital. FMC said it would direct all proceeds toward debt reduction. FMC had expressed intention to exit its India crop protection commercial operations in July 2025, saying the move would allow it to re-enter the Indian market through a new go-to-market strategy while redeploying capital elsewhere. Under the terms of the transaction, Crystal Crop will acquire FMC India's commercial operations in the crop protection segment, including a licence to use FMC's brands sold in the country, FMC said in a statement. Crystal will also receive a preferred supply agreement for certain FMC active ingredients and formulated products, along with preferred access to FMC's pipeline of active ingredients in India. FMC will continue to receive cash generated from the India business until the deal closes, primarily through the monetisation of working capital. ''Crystal Crop Protection is well-positioned to serve Indian farmers with FMC's portfolio of innovative technologies,'' said Pierre Brondeau, FMC's chairman, chief executive and president, adding that the company would support Crystal's growth through the supply agreement. Brondeau said FMC would remain present in India through global research and development activities and manufacturing operations. Crystal Crop Protection Chairman and Managing Director Ankur Aggarwal said the acquisition would allow the company to accelerate innovation across chemical and biological crop protection, and give Indian farmers broader access to novel products. BofA Securities served as exclusive financial adviser to FMC, with Davis Polk & Wardwell LLP and Khaitan & Co acting as its US and Indian legal advisers, respectively. EY advised Crystal Crop Protection, while Shardul Amarchand Mangaldas & Co provided legal counsel. Further financial terms were not disclosed.