Non-food business Archives - Business of Food https://www.businessoffood.in/tag/non-food-business/ Latest Food News, Food Industry News & Business Update Mon, 29 Jul 2024 10:10:53 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.businessoffood.in/wp-content/uploads/2024/01/cropped-Food-in-32x32.png Non-food business Archives - Business of Food https://www.businessoffood.in/tag/non-food-business/ 32 32 227603187 Patanjali Foods to Acquire Patanjali Ayurved’s Non-Food Business for Rs 1,100 Crore https://www.businessoffood.in/patanjali-foods-to-acquire-patanjali-ayurveds-non-food-business-for-%e2%82%b91100-crore/ Tue, 02 Jul 2024 08:21:30 +0000 https://www.businessoffood.in/?p=4889 Patanjali Foods Ltd is set to acquire the non-food business of Patanjali Ayurved, led by Baba Ramdev, for Rs 1,100 crore. According to a regulatory filing, the board has approved the acquisition, which encompasses the entire non-food business, including hair care, dental care, skin care, and home care segments. This also includes all movable assets, […]

The post Patanjali Foods to Acquire Patanjali Ayurved’s Non-Food Business for Rs 1,100 Crore appeared first on Business of Food.

]]> Patanjali Foods Ltd is set to acquire the non-food business of Patanjali Ayurved, led by Baba Ramdev, for Rs 1,100 crore. According to a regulatory filing, the board has approved the acquisition, which encompasses the entire non-food business, including hair care, dental care, skin care, and home care segments. This also includes all movable assets, immovable properties, contracts, licenses, books and records, employees, and certain assumed liabilities of Patanjali Ayurved, through a slump sale arrangement on a going concern basis.

The acquisition depends on the approval of shareholders, lenders, and other necessary clearances, including from the Competition Commission of India. The total payment will be made in five tranches. Patanjali Foods CEO Sanjeev Asthana mentioned that the company would fund the deal through internal cash reserves. The transaction is expected to be completed within the current quarter.

In 2023, Patanjali Foods Ltd reported a revenues of Rs 318 billion, marking a significant increase from Rs 242 billion in 2022.

The post Patanjali Foods to Acquire Patanjali Ayurved’s Non-Food Business for Rs 1,100 Crore appeared first on Business of Food.

]]> 4889