M&A

M&A

‘Sunpure' brand owner MK Agrotech acquires Maharashtra-based edible oil brand Riso

Economic Times  

Srirangapatna, Karnataka-headquartered FMCG company MK Agrotech, which owns edible oil maker Sunpure, has acquired Maharashtra-based premium edible oil brand Riso in an all-cash deal. With the acquisition, MK Agrotech intends to expand Sunpure's presence in Maharashtra and targets INR 120 crore in revenue in FY24. Riso, which makes groundnut oil, rice bran oil, and sunflower oil claims to enjoy a 10% market share in the state and is present in over 8,000 outlets. Recently, Sunpure forayed into the branded spices market. The edible oil maker also plans to expand its food product portfolio to include grains, pulses and dry fruit.