M&A
Forever Global acquires Dhampur Bio’s Meerganj sugar factory for Rs.305-Cr
BSE Announcement Economic Times
Gorakhpur-based Forever Global Enterprises has completed the acquisition of the Meerganj facility from New Delhi-based Dhampur Bio Organics for INR 305 crore.Founded in 1933, Dhampur Bio Organics is a player in sugar, fuel ethanol, renewable energy, domestic spirits, Extra Neutral Alcohol (ENA), organic fertilisers, and bagasse-based energy resources. The acquired facility, located in the Bareilly district of Uttar Pradesh, features a 9,000 tonnes crushed per day (TCD) sugar mill and a 23 MW cogeneration power plant.Forever Global Enterprises plans to use the site to develop a 200 KLPD grain-based and 100 KLPD molasses-based distillery as part of a total planned investment of INR 760 crore. It intends to use the site to integrate its sugar production and distillery operations, aiming to scale output to over 1 crore quintals in the upcoming sugar season.
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