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Ruchi Soya buys Patanjali's food business for ₹690 crore
Business Standard
|May 19, 2022
To pay 1% of turnover of products as annual royalty under transfer agreement
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.
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