Advanta India has acquired the business of Unicom Seeds (Unicom) by acquiring 100% shares in the company for a consideration that includes deferred payment based on achievement of performance related milestones. Unicom has a strong presence in the domestic and export markets of vegetable seeds. Unicom also undertakes the custom production of vegetable seeds for the customers all around the globe. The Revenue size of the business of Unicom for the last financial year was about Rs 25 crore. The business has the EBITDA earning capacity of about 30%.
With this acquisition, company’s platform in vegetable seeds will become stronger with added crops to its current vegetable product portfolio (golden). With the added products like melons and cucumber from Unicom the combined vegetable portfolio (golden and Unicom) will make company a significant player in the vegetable seed market.