Packaged food company Annapurna Swadisht Ltd on Wednesday announced that it has acquired the six-decade-old 'Arati' brand mustard oil from R R Proteins and Agro Ltd (RRPAL) for a consideration of Rs 28 crore. The acquisition would help the company foray into the edible oil segment and strengthen its FMCG portfolio. The estimated amount of Rs 28 crore includes the cost of acquisition of manufacturing unit and the brand, a company official said. The funding for the deal would be a combination of internal accruals and debt, he said. RRPAL has a production capacity of 9 lakh litres of oil per month, and the acquisition will enable Annapurna Swadisht to enter a new business vertical of edible oil, he said. "We believe that acquisition offers an opportunity that aligns well with the company's overall strategy of becoming a formidable player in the packaged food industry in the semi-urban and rural markets of India," Annapurna Swadisht Ltd (ASL) Managing Director Shreeram Bagla said. Th
Magicrete, which produces building product AAC Blocks, construction chemicals, and precast construction solutions, on Wednesday said it has completed the acquisition of a majority stake in Maxlite. The company did not disclose the actual stake that it has acquired and also the deal value. In a statement, Magicrete said this strategic acquisition would enhance its total installed capacity of AAC (Autoclaved Aerated Concrete) blocks to 1.8 million cubic metres per annum. Maxlite is an AAC Blocks manufacturer located in South India, headquartered in Bengaluru. It operates two AAC Blocks manufacturing facilities, one in Karnataka and the other in Tamil Nadu, boasting a combined annual capacity of 5,00,000 cubic meters. AAC Blocks serve as resource-efficient alternatives to traditional red clay bricks, offering superior thermal insulation and reducing construction time and structural load. They are about ten times larger than clay bricks and are manufactured using waste fly ash, thereb
Veeda expands its footprint across major regions and will gain expertise in late-stage oncology trials
Jupiter Wagons has acquired Bonatrans India, manufacturer of rolling stock wheelsets, for a consideration of Rs 271 crore.
Himadri will have two nominee directors on the board of Invati Creations Private Limited
IDBI Bank's disinvestment process began in October 2022, with LIC and the government selling their respective shares of 30.24% and 30.48%
The companies are in preliminary talks about an acquisition of Disney's significant minority stake, which would value Tata Play at about $1 billion or more, the people said
The transaction is also subject to the completion of Reliance's previously announced merger with Walt Disney for their India TV and streaming media assets
NewMed said all parties had agreed to pause negotiations, although Abu Dhabi National Oil Co (ADNOC) and BP have reaffirmed their interest in the deal
The acquisition strengthens Nirma's presence in the pharmaceuticals and life sciences sector
Sugar company Triveni Engineering & Industries Ltd has acquired a 25.43 per cent stake in Sir Shadi Lal Enterprises Ltd (SSEL) for Rs 35 crore and launched an open offer to shareholders for acquiring an additional 26 per cent stake. Triveni Engineering is one of the leading integrated sugar producers in the country. It is also into engineered-to-order high speed gears & gearboxes and water and waste water management business. In a statement, the company said it has acquired a 25.43 per cent stake in SSEL. Pursuant to a share purchase agreement executed with Vivek Viswanathan and Radhika Viswanathan Hoon on January 30, 2024, the company on Monday acquired 25.43 per cent equity stake in SSEL for an aggregate consideration of Rs 35 crore, i.e. at a price of Rs 262.15 per equity share of SSEL. To acquire a majority stake in SSEL, the company had launched an open offer to the shareholders of SSEL to acquire up to 26 per cent of the outstanding voting share capital at Rs 262.15 per .
The acquisition, effective February 20, 2024, was made for an aggregate consideration of Rs 98.70 crore
Despite having raised approximately $500 million to date, Dunzo has faced increased competition in the hyperlocal delivery segment
It's a "singular opportunity" to bring together two companies that can compete with the largest payment networks, Capital One Chief Executive Officer Richard Fairbank said in the statement
The transaction is expected to be completed by the end of February 2024, pending fulfilment of certain conditions
The group's acquisition is still pending court and regulatory approvals. If the transaction is successful, IIHL, along with other entities, will have a controlling stake in Reliance Capital
The talks come at a time Walmart is increasingly monetising its reach and troves of shopper data to sell ads on its properties including its website and store assets such as digital diplays
Founded in 2019, Aggne is incorporated in the US and India, with offices in Tampa, Florida, and Hyderabad, India. The company has 230 employees based in India and the United States
IndiGrid has announced the acquisition of 100 per cent of ReNew Solar Urja Private Limited (RSUPL). The deal is expected to be valued at Rs 1,650 crore
The company is generating good response from the potential bidders as it is focusing primarily on products in surgical and post surgical as well as chronic care