Crystal ventures into vegetables & flower seeds with acquisition of I&B Seeds

New Delhi: Crystal Crop Protection Limited, a leading agriculture solutions organization, has announced its 12th acquisition, acquiring I&B Seeds, a prominent player in the flower and vegetable seeds market having Leadership position in Marrigold seeds with Indus and SPS brands.

This strategic move will enable Crystal to diversify its seeds business and strengthen its presence in the high-value vegetable and flower segments, positioning the company as a formidable player in the industry.

By expanding into these segments, Crystal aims to provide farmers with access to high-quality vegetable and flower seeds that can enhance yield and profitability. This acquisition will also foster innovation in seed technology, benefiting the broader agricultural landscape by promoting sustainable practices and increasing crop diversity. As a result, farmers will have improved options for cultivation, contributing to better food security and economic stability in the agricultural sector.

Commenting on the acquisition, Ankur Aggarwal, Managing Director of Crystal Crop Protection Limited, stated, “This acquisition marks a pivotal moment in our growth strategy. At Crystal, we are deeply committed to the well-being of our farmers. By expanding into the vegetable and flower seed segments, we are not only diversifying our offerings but also enhancing our ability to provide farmers with high-quality seeds that can significantly increase their incomes. Our focus is on empowering farmers with innovative solutions that improve yields and profitability, ensuring they have access to the best resources for their cultivation needs. I&B Seed’s expertise in the flower and vegetable seeds market, combined with our strong portfolio in field crops, will allow us to better serve the agricultural community and contribute to sustainable farming practices across India.”

Crystal’s current seeds portfolio has farmer’s preferred brands like Proagro, Sadanand, Surpass, Dairy Green across field crops like cotton, maize, pearl millet, mustard, fodder, wheat, berseem, and sorghum. With the addition of Indus and SPS Brands with acquisition of I&B Seeds vegetable and flower segments, Crystal will further diversify its product offerings and expand its reach to more farmers. The new business is expected to boost Crystal’s seeds division, contributing to a 30% increase in its topline growth.

Praveen Noojibail, Managing Director of I&B Seeds, stated, “This acquisition is a great opportunity for Crystal seeds to combine I&B Seed’s legacy in flower and vegetable seeds with Crystal’s extensive resources and distribution network. The size and strength of Crystal will help accelerate reach of innovative and high-quality seeds to farmers across India and beyond, ensuring better yields and profitability.”

George Ball, Chairman, W. Atlee Burpee Company and Partner in I&B Seeds, also stated that it will be a great opportunity for I&B Seed’s R&D to reach farmers at larger level and help them produce better crops.

Crystal has been actively pursuing inorganic growth through strategic acquisitions. This marks the company’s twelfth acquisition overall and the fifth in the seeds business. Previous acquisitions include the Sadanand cotton seed portfolio from Kohinoor Seeds in 2023 and the cotton, pearl millet, mustard, and sorghum portfolio from Bayer in 2021. Between 2018 and 2022, Crystal acquired several agrochemical and seeds brands from major multinational companies such as Syngenta, FMC, and Dow-Corteva, among others. Additionally, the company acquired a manufacturing facility from the Solvay Group in 2018.

Artha Arbitrage Consulting, a Hyderabad based financial consulting firm, advised I&B on this transaction.