CavinKare buys Ruchi brand for Rs 15 crore

 The Andhra Pradesh-based Ruchi a Rs 12 crore brand is pre-dominantly a pan-south India player and is a market leader in Tamil Nadu. CavinKare now plans to take the Ruchi brand national.

 CavinKare officials also said the company is eyeing growth in the fast moving consumer goods market both through organic and inorganic routes.

 Ruchi is the first major brand acquired by CavinKare. The acquisition was funded fully through internal accruals.

 CavinKare acquired the Ruchi brand from Ruchi Agro Foods, along with the pickle manufacturing plant and machinery with a capacity 130 to 150 tonne per month in Gudur in Andhra Pradesh.

 The company plans to promote the Ruchi brand as a premium brand and position its own brand Chinni