UPL Subsidiary Advanta Mauritius to Acquire Decco Holdings UK for $502 Million

On Sep 2, 2025, UPL Ltd announced that its subsidiary, Advanta Mauritius, has approved the acquisition of Decco Holdings UK for $502 million. Decco is currently a wholly owned subsidiary of UPL Corporation Mauritius, making this a related-party transaction under an internal restructuring initiative.

The transaction is part of UPL’s broader strategy to streamline operations by bringing its post-harvest solutions under the seed platform. Following the deal, Decco’s operations will be integrated with Advanta’s seed business, where UPL will retain an effective 78.21% stake.

Financial Snapshot of Decco

According to UPL’s regulatory filing:

• FY25 consolidated revenue: ₹933 crore (1.98% of UPL’s total revenue)
• Net worth: ₹431 crore

The acquisition is subject to shareholder approval and is expected to close by December 31, 2025.

Expected Benefits of Acquisition and Valuation Support

UPL expects the move to deliver:

• Operational synergies
• Enhanced digitalisation capabilities
• Greater scale and efficiency in emerging markets

The transaction has been evaluated by KNAV Advisory Private Limited to ensure compliance with arm’s length standards.

Separate Investment in Thai Agrochemical Firm

In a related but separate development, UPL Global Ltd, a UK-based step-down subsidiary, signed a share subscription agreement on Monday to acquire a 49% stake in Thailand-based Grow Chemical Co. Ltd for $0.76 million. This deal is also expected to close by the end of the year.

Also Read: CCI Approves SMBC’s Stake Hike in Yes Bank to ~25%

UPL Management on Q1FY26 Performance

Jai Shroff, Chairman & Group CEO, UPL Ltd. said, "We are pleased to report a strong start to FY26, reflecting the strength of our portfolio. All the platforms have been able to improve margins and cash generation. The remarkable resilience demonstrated by all our platforms, reaffirms that UPL is on the path of sustainable value creation. In view of this, we continue to see the opportunities of creating value for our shareholders.

While the business platforms continue to attract investments from leading global investors, we remain committed to unlocking value across all the platforms through restructuring, receiving strategic investments, potential liquidity events which also helps to accomplish deleveraging, and we will soon engage advisors to achieve the same.”

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