FMC sells India crop protection business to Crystal Crop Protection for $252M

FMC has signed a definitive agreement to sell its India commercial crop protection operations to Crystal Crop Protection for $252 million, exiting direct distribution in the country while retaining its research and manufacturing presence there.

Under the deal, Crystal Crop Protection acquires FMC India’s commercial operations in crop protection, including a licence to FMC’s brands sold in India and a preferred supply agreement for FMC active ingredients and formulated products. Crystal also gains preferred access to FMC’s pipeline of new active ingredients for the Indian market. The transaction is expected to close by year-end 2026, subject to regulatory approvals and customary closing conditions.

FMC intends to apply all proceeds to debt reduction. The company announced its intention to exit direct India distribution in July 2025, framing the move as a redeployment of capital toward higher-growth markets globally. FMC will retain global R&D activities and manufacturing operations in India, with Crystal receiving product supply under the commercial agreement.

“Crystal Crop Protection is well-positioned to serve Indian farmers with FMC’s portfolio of innovative technologies, and we look forward to supporting their growth through our supply agreement,” said Pierre Brondeau, FMC chairman and chief executive officer.

Founded in 1994, Crystal Crop Protection operates an integrated model spanning crop protection synthesis R&D, manufacturing, seeds breeding, and pan-India distribution. The acquisition gives Crystal access to FMC’s established brand portfolio and active-ingredient pipeline across one of the world’s largest agrochemical markets. BofA Securities and Davis Polk & Wardwell advised FMC; EY and Shardul Amarchand Mangaldas advised Crystal.