UPL to buy Egypt’s Hytech for $110M in MEA corn seed push

What’s the deal? UPL Ltd’s step-down subsidiary Advanta Holdings B.V. will acquire a 99.98% stake in Misr Hytech Seed International S.A.E. (Hytech Egypt) for roughly $110 million in cash. Advanta is buying equity in Hytech USA, which controls the Egyptian seed company.

What’s the endgame? UPL wants to make its Advanta platform a leader in white and yellow corn seed across the Middle East and Africa. The purchase marks a major international expansion for its seed business.

The backstory: Hytech Egypt works in the agricultural seeds industry. Its turnover was about $34.9 million in FY 2023 and $37.6 million in FY 2024, with FY 2025 projected at $25.7 million. Its financial year runs September to August.

What could go wrong? The deal needs anti-trust approvals from the COMESA Competition and Consumer Commission and the Egyptian Competition Authority. Without them, the transaction cannot close. It is expected to finalise on or before January 31, 2027.

The signal: The acquisition puts UPL in direct competition with other global and regional players in the MEA corn seed market. Watch the regulatory reviews between now and the January closing date.

Read more: Whalesbook

Image credit: USDAgov