The deal expands UPL’s presence in the Middle East and Africa’s corn seed market.
According to the latest reports, UPL is expanding its seeds business in the Middle East and Africa through a proposed $110 million acquisition of Egyptian seed company MisrHytech Seed International S.A.E., also known as Hytech Egypt. The transaction is being undertaken by UPL’s step-down subsidiary, Advanta Holdings B.V., as part of a broader effort to strengthen its position in the regional agricultural seeds market.
Under the proposed transaction, Advanta Holdings will acquire an equity interest in Hytech USA LLC, the holding company that controls Hytech Egypt. Once completed, Atlanta is expected to hold a 99.98% stake in Hytech Egypt. The acquisition will be funded through a cash consideration of approximately $110 million. The deal is expected to close on or before January 31, 2027, subject to the required regulatory approvals.
Focus on corn seed business.
Hytech Egypt operates in the agricultural seeds sector, with its business centred on crop varieties including white and yellow corn. The acquisition is expected to give Advanta a stronger position in one of the Middle East and Africa region’s key corn seed markets.
For UPL, the transaction represents an expansion of its seeds operations rather than a move into an entirely new business area. Advanta already forms part of UPL’s Seeds and Post Harvest segment, with UPL effectively holding a 78.21% interest in the platform.
Hytech’s financial performance.
Hytech Egypt reported turnover of about $34.9 million in fiscal 2023 and $37.6 million in fiscal 2024. Its turnover for fiscal 2025 was projected at approximately $25.7 million, according to transaction-related information. The company’s financial year runs from September to August.
The figures indicate that the target has an established operating presence in the regional seed industry. However, its recent turnover has been below the levels recorded in the previous two financial years.
The acquisition is not yet complete. The transaction requires approvals from competition authorities, including the COMESA Competition Commission and the Egyptian Competition Authority. The outcome of these regulatory reviews will determine whether the proposed acquisition can proceed as planned. If approvals are secured, the transaction is expected to be completed by the end of January 2027.
