Patanjali Foods is eyeing to strengthen its position in the fast-moving consumer goods (FMCG) market through the acquisition
Patanjali Foods has secured approval from the Competition Commission of India (CCI) to acquire Patanjali Ayurved’s home and personal care (HPC) business in a Rs 1,100 crore deal. As per the CCI’s statement, the proposed combination involves the acquisition of PAL’s HPC business division (non-food business) by PFL.
Patanjali Foods is eyeing to strengthen its position in the fast-moving consumer goods (FMCG) market through the acquisition. Patanjali Foods posted a total revenue of Rs 31,961.62 crore in the last financial year as compared to Rs 31,821.45 crore in the preceding year.
PFL is engaged in the processing of oilseeds, refining of crude oil for edible use, production of oil meal, food products from soya and value-added products from downstream and upstream processing. In addition, it also engages in the business of FMCG, fast-moving health goods comprising mainly of food, biscuits and nutraceutical products, as per the statement from the CCI.
The commission mentioned in its release that Patanjali Ayurved or PAL is engaged in the business of manufacturing, trading, packing and labelling of ayurvedic medicines (by way of herbo mineral preparations, combining herbs and minerals); HPC items; dairy items and bulk trading of rice and others.
The edible oil major Patanjali Foods notified in July that is going to acquire Patanjali Ayurved’s home and personal care business for Rs 1,100 crore to provide a boost to its efforts to become a leader in the FMCG segment. Patanjali Ayurved is one of the promoters of Patanjali Foods. As per CCI, HPC division is engaged in business that encompasses the products under haircare, skincare, dental care and home care segment.
