Recently, Rainbow and Biok signed an agreement on equity purchase of Ningxia Grenada, Rainbow purchased 73% stake of Ningxia Grenada which was held by Biok. After this deal, Rainbow will also increase its equity ratio in Ningxia Grenada by capital increase.

Rainbow has always been committed to the international market development since its establishment, benefit from the innovative global rapid market access platform construction and transformation of the brand strategy, Rainbow achieved sustained and stable growth since 2011. According to the China Pesticide Industry Association and Chinese customs data, Rainbow’s turnover reached 510 million USD, ranked number four by sales revenue and ranked number one by export amount in USD among of China Agchem industry in 2014.

Rainbow’s rapid growth in international market brings increased production demands, this equity transaction will enrich the portfolio of Rainbow, make the strategic layout of production base more reasonable, and to do sufficient strategic reserves for the development in the future 5-10 years, as well as to provide a more solid foundation and support for the market development.