M&A

M&A

Ruchi Soya to acquire food retail business of Patanjali Foods for Rs.690-Cr

BSE Disclosure  

Publicly-listed Ruchi Soya Industries Limited is to acquire the food retail business undertaking of Patanjali Ayurved Limited (“PAL”) which consists of manufacturing, packaging, labelling and retail trading of certain food products along with manufacturing plants located at Padartha, Haridwar, and Newasa, Maharashtra , as a going concern on a slump sale basis, for INR 690 crore. The transaction shall consist of transfer of employees, assets (excluding Patanjali's brand, trademarks, designs and copyrights), current assets (excluding debtors, vehicles, cash and bank balance) contracts, licenses and permits, distribution network, customers related to the Food Retail Business Undertaking of PAL. Ruchi Soya Industries Limited has decided to change its name to “Patanjali Foods Limited”.