Durban, South Africa, 16 November 2023 - UPL Ltd. (NSE: UPL & BSE: 512070 LSE: UPLL) (‘UPL’) a global provider of sustainable agricultural solutions, has increased its equity in Novon Retail Company Pty Ltd to 49%. Novon Retail Company is a distributor of various agricultural chemicals for crop protection in South Africa.
UPL INCREASES EQUITY IN NOVON RETAIL COMPANY TO 49%
• Novon Retail Company is a distributor of various agricultural chemicals for crop protection in South Africa
• UPL’s increase in equity is part of a plan to expand business in South Africa’s Gauteng, Northwest, Mpumalanga, and Limpopo Provinces regions
Durban, South Africa, 16 November 2023 - UPL Ltd. (NSE: UPL & BSE: 512070 LSE: UPLL) (‘UPL’) a global provider of sustainable agricultural solutions, has increased its equity in Novon Retail Company Pty Ltd to 49%. Novon Retail Company is a distributor of various agricultural chemicals for crop protection in South Africa.
UPL’s move will drive the future expansion of the business throughout South Africa’s Gauteng, Northwest, Mpumalanga, and Limpopo Provinces regions serviced by Novon Retail Company. This expansion will directly benefit farmers in the country by increasing their access to UPL’s holistic portfolio of sustainable agricultural inputs.
Marcel Dreyer, UPL’s Regional Head, Africa said: “UPL is very proud to partner with and support Novon Retail Company and its entire sales force involved in traditional and biosolution crop protection business. Our goal is to meet the needs of farmers through the expertise of our distributors. This is part of our Reimagining Sustainability mission, which focuses on creating sustainable agricultural practices and food security in South Africa.”
The transaction carried the unanimous support of all shareholders.
ENDS
For more information, please contact:
UPL
Desere Ray
Marketing & Communication Manager – AFRICA
(031) 514-5600
NOTES TO EDITORS:
About UPL
UPL Ltd. (NSE: UPL & BSE: 512070, LSE: UPLL) is a global provider of sustainable agriculture products and solutions, with annual revenue exceeding $6bn. We are a purpose-led company. Through OpenAg®, UPL is focused on accelerating progress for the food system. We are building a network that is reimagining sustainability, redefining the way an entire industry thinks and works – open to fresh ideas, innovation, and new answers as we strive towards our mission to make every single food product more sustainable. As one of the largest agriculture solutions companies worldwide, our robust portfolio consists of biologicals and traditional crop protection solutions with more than 14,000 registrations. We are present in more than 130 countries, represented by more than 10,000 colleagues globally. For more information about our integrated portfolio of solutions across the food value chain including seeds, post-harvest, as well as physical and digital services, please visit please visit upl-ltd.com and follow us on LinkedIn, Twitter, Instagram and Facebook.
