)
This will be an addition to Emami's existing portfolio of edible oil brands such as 'Emami Healthy & Tasty' and 'Himani Best Choice'.
With the acquisition the company plans to grow Rs 150-crore Rasoi brand to Rs 800 to 1000 crore brand in the next two to four years, the company said in a statement.
With a sales turnover of around 150 crore, the production of vanaspati attributes about 90 per cent of Rasoi's portfolio, the rest being other varieties of cooking oil such as mustard Oil, soya refined oil and palm oil.
"Emami Biotech is poised to be a Rs.5000 cr company by end of this financial year.The acquisition of Rasoi brand is part of our inorganic growth plan and has been funded internally. This is line with our overall growth strategy to emerge as the one of the top three edible oil companies in India," Emami Group director Manish Goenka said.
