Patanjali’s biscuit company will take over interest; know how many deals were made

Ruchi Soya Industries has announced that it will buy Patanjali’s biscuit company. The deal has been finalized for Rs 60.02 crore. The acquisition will be completed in the next two months. The amount of this deal will be paid in 2 phases.

According to Ruchi Soya, about 15 crore rupees will be given on or before the closing date of the deal. Whereas 45 crore rupees will be given within 90 days from the date of closing of the deal. In this transaction, there will be a transfer of employees, assets, current assets and liabilities, licenses and permits, etc. along with a contract manufacturing agreement. Ruchi Soya is doing business in India with brands like Nutrela, Mahakosh, Ruchi Gold, Ruchi Star and Sunrich.

Ruchi Soya Industries said that this deal will support the company’s forward strategy. The company’s forward strategy is that it wants to be a big player in the FMCG sector. Ruchi Soya and Patanjali Natural Biscuits are related parties and have also made non-compete arrangements.

Patanjali was started by Baba Ramdev and Acharya Balakrishna in 2006. At present, Acharya Balakrishna holds a 99.6 percent stake in the company. Baba Ramdev is the co-founder of the company. At the same time, Baba Ramdev is a non-executive non-independent director in Ruchi Soya.

Patanjali Ayurveda bought Ruchi Soya in 2019

Ruchi Soya was once in debt. In such a situation, it was bought by Patanjali Ayurveda in the year 2019. For this, Patanjali itself had to take a loan of Rs 3200 crore. Patanjali had borrowed Rs 1,200 crore from SBI, Rs 400 crore from Syndicate Bank, Rs 700 crore from Punjab National Bank, Rs 600 crore from Union Bank of India and Rs 300 crore from Allahabad Bank.