Safex Chemicals acquires chemical manufacturer Shogun Organics
Safex Chemicals India Limited announced that it has acquired Mumbai-based Shogun Organics Limited. The acquisition will give Safex a platform to backward venture into the agrochemical technical space and enter the Home Care & Agrochemical Technical Manufacturing segment.
The promoters of Safex, Mr. SK Chaudhary, Mr. Neeraj Jindal, Mr. Rajesh Jindal, and Mr. Piyush Jindal will join the board of Shogun Organics.
Established in 1991 by late Mr. SK Jindal and Mr. SK Chaudhary, Safex produces and sells branded agrochemicals that enhance the security and productivity of Indian crops. The company has transformed the branded formulations segment in the Indian agrochemical market, via its unique multi-brand model and direct distribution strategy.
It has recently raised $50 million from India-focused growth private equity firm, Chrys Capital.
Shogun Organics is a leader in the Indian home care technical segment and the company has permissions for manufacturing technicals for agrochemicals. The deal was advised by Investec India and Rohilla & Co.
Speaking about the acquisition, Neeraj Jindal, Director, Safex, said, “We are pleased to welcome Shogun Organics and its team as part of the Safex Group. We believe Shogun Organics with its dominant leadership position in the Indian home-care technical segment, strong customer relationships, and export capabilities is an ideal fit for the next phase of Safex’s growth journey. We intend to leverage Shogun’s existing infrastructure to backward integrate into the agrochemical technicals segment and expand into the agrochemical exports market”.
Piyush Jindal, Director, Safex said, “Safex is excited to partner with Shogun’s management team in its growth journey. Home care technicals is an attractive market and Shogun has consistently maintained more than 50% market share in the segment. We believe there are strong synergies between the two companies and the combined entity would provide a platform which will further propel Safex into a marquee player in the agrochemical and home care technicals segment.”
Established in 1991, Safex Chemicals is a leading player involved in the manufacture and sale of crop protection products across India. Beginning from the two northern states of Punjab and Haryana in 2010, the Company has successfully grown into 17 states with a pan-India distribution network of over 10,000 dealers and serves over 20 lakh farmers.
It has been one of the fastest-growing agrochemical players in India with revenues of INR 700 Crores in the current fiscal. It has a well-structured sales & marketing organization of over 500 employees who have helped build trust amongst the farmers and a strong dedication to the crop protection industry. The Company runs five manufacturing facilities across India.
Launched in 1993, Shogun Organics is the biggest player in the Indian home-care technicals segment with a commanding market share and has permissions for producing technicals for agrochemicals.
Shogun manufactures active ingredients and technicals essentially used in the home care and mosquito repellent industries. Shogun has a solid customer base with major players like Godrej Group and Reckitt amongst its customers. Shogun also exports its products to over seven countries.
Safex Chemicals has been in the industry for 29 years and is contributing towards healthy crops. The company has come a long way and has greatly contributed towards the industry.Shishir Gupta, Founder and CEO, StartupLanes
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