EXPANDING FOOTPRINT
▶The transaction will be funded through internal accruals
▶ Businesses like hair care, dental care, skincare, medicine, and herbal formulations will remain with Patanjali
▶Ruchi's food portfolio is expected to contribute approximately 18% to total revenue in FY23
▶ Combined food portfolio of Ruchi and Patanjali's food business is estimated to cross revenue of 6,600 6,800 crore in FY23
Edible oil major Ruchi Soya has announced it's acquiring the food business of Patanjali Ayurved for around ₹690 crore. This is expected to fast-track Ruchi Soya's shift to the fast-moving consumer goods (FMCG) category.
The name of Ruchi Soya Industries Ltd will be changed to Patanjali Foods Ltd after regulatory approvals.
The acquired food business consists of 21 products including ghee, honey, spices, juices, and flour.
Ruchi Soya will pay an annual royalty to Patanjali Ayurved, estimated at 1 per cent of the gross turnover of the products under the transfer agreement, according to a company source.
This story is from the May 19, 2022 edition of Business Standard.
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This story is from the May 19, 2022 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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