Patanjali Foods is going to buy the Ayurvedic nonfood company. wing
At its meeting on Friday, the Patanjali Foods Limited board approved, in principle, a proposal to review a proposal to purchase the non-food companies owned by Patanjali Ayurved Limited.
According to a press statement from the firm, the board approved the evaluation of the most effective way to increase synergies with Patanjali Ayurved Limited’s non-food portfolio in any way on an arm’s length basis. To examine the plan, a committee consisting of three people has been constituted.
The business announced to both the National Stock Exchange and the Bombay Stock Exchange that it has been given permission to conduct due diligence and designate experts to negotiate the terms and conditions of the agreement. The terms of the discussions must be presented to the board for final approval after they have been finalized.
In 2019, Patanjali Food Limited purchased the Indore-based Ruchi Soya Industries Limited. Two years later, in 2021 and 2022, the newly formed firm bought Patanjali Ayurved Limited’s biscuit, noodle, morning cereal, and other food businesses for a total of more than Rs. 700 crore.
The firm was established in 1986 and specializes in wind power production, edible oils, and food and fast-moving consumer goods (FMCG).
According to the company’s stock filing, “the proposal received from PAL may offer synergies to the company’s product portfolio with an array of brands and contribute to growth in terms of revenue and EBITDA (earnings before interest, taxes, depreciation, and amortization).”.
Products from Ruchi Soya were marketed under the names Ruchi Gold, Mahakosh, Sunrich, Nutrela, Ruchi Star, and Ruchi Sunlight prior to incorporation. Patanjali Foods Limited has long-standing food items marketed under the Patanjali, Ruchi Gold, Nutrela, and other brands.
The main goals of Patanjali Foods Limited’s investments are portfolio expansion and brand growth. To accommodate a broad range of customer tastes, food items from the company’s stable are offered in a variety of categories, price ranges, and market segments.
