Agrochemical firm Safex Chemicals on Thursday acquired Gujarat-based Shogun Lifesciences through its wholly-owned subsidiary Shogun Organics Ltd. The acquisition makes Safex Chemicals the sole company in India to provide a complete agri to home care portfolio.

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Shogun Organics Ltd is a Pune-based manufacturer of Home Care Active Ingredients, now expanded to produce agrochemical active ingredients. Shogun Organics itself was acquired by Delhi-based Safex, a year back.

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Shogun Lifesciences manufactures aluminium phosphide and zinc phosphide with manufacturing facilities near Ahmedabad. Aluminium phosphide is a very vital and sole molecule used for safe storage of foodgrains and fumigation of storage spaces, while zinc phosphide is used for control of rats which cause extensive crop damage and destroy stored foodgrains and spread bubonic plague.

Safex Chemicals said the 8-acre plot acquired along with Shogun Lifesciences will be utilised to strengthen the supply chain of existing and future businesses. It will eventually add more facilities to set up multi-product formulation sections and enhance present aluminium phosphide production capabilities.

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Commenting on the acquisition, Safex Chemicals Founder Director S K Chaudhary said currently, there are a handful of companies manufacturing fumigants required for safe grain storage. This acquisition makes Safex the sole company in India to provide a comprehensive solution for crop nutrition, growth regulation, prevention, protection, safe grain storage and home care chemicals under one roof, he said.

"The acquisition will propel Safex to achieve sales of Rs 1,000 crore in FY'2022-23," he added in a statement.

(With inputs from PTI)

(Edited by : Priyanka Deshpande)

First Published:Feb 3, 2022 6:29 PM IST