Agri-Inputs Due Diligence: Building the Commercial Thesis for a PE Acquisition
Ran primary research with farmers and dealers to validate unit economics and product thesis for a PE firm's acquisition target
Isha Agrawal
Senior Associate Consultant at Praxis Global Alliance
From their time as
Senior Associate Consultant
Praxis Global Alliance • 2025
Overview
Isha worked on a due diligence case for a PE firm that was evaluating the acquisition of an agri-inputs company. Her workstream focused on the commercial thesis: understanding whether the target company's products were genuinely gaining traction with end users.
The Story
Isha worked on a due diligence case for a PE firm that was evaluating the acquisition of an agri-inputs company. Her workstream focused on the commercial thesis: understanding whether the target company's products were genuinely gaining traction with end users.
To answer that question, she ran primary conversations with farmers and dealers across the relevant geographies. With farmers, she focused on sowing patterns, product usage, and which SKUs were actually being purchased and why. With dealers, she focused on what was moving off shelves and what the demand dynamics looked like at the distribution level.
The findings were synthesized into a commercial thesis presented to the PE firm, showing how the target company's products were performing with end users and what the demand trajectory looked like. The work was designed to give the PE firm a ground-level view of the business that financial statements alone could not provide.