Patanjali Foods to acquire Patanjali Ayurved’s household, personal care business for Rs 1,100 crore

New Delhi. Baba Ramdev-led Patanjali Ayurveda has decided to sell its household and personal care business to the group’s listed company Patanjali Foods Limited for Rs 1,100 crore. This acquisition will help edible oil company Patanjali Foods to become an FMCG (daily use goods) company. Patanjali Foods told the stock market that its board of directors has approved the acquisition of Patanjali Ayurveda’s entire non-food business i.e. hair and skin care, dental care and home use products.

This includes all movable assets, immovable assets, contracts, licenses, books and records, employees and certain assumed liabilities of PAL. The deal is subject to shareholder, lender and other necessary approvals. Patanjali Foods said the deal will accelerate the company’s process of transforming into a leading FMCG company.

According to the information given to the stock market, Patanjali Foods and Patanjali Ayurveda have also agreed on a license agreement, which will allow the company to use the trademarks and related intellectual property rights owned by Patanjali Ayurveda. The deal has been done for a lump sum amount of Rs 1,100 crore based on the valuation of independent evaluators. After the approval of the board of directors, Patanjali Foods will now take the necessary steps to implement the definitive agreements regarding the acquisition and apply to obtain the necessary approvals.

Disclaimer: CricketInFocus has not edited this news. This news has been published from PTI-language feed.

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