Bunge India to acquire edible oils, fats business of Amrit Banaspati
Bunge Ltd. (BG: News ) said its wholly owned subsidiary, Bunge India Private Ltd., entered into definitive agreements with Amrit Banaspati Co. Ltd. and Amrit Corp. Ltd. to acquire the edible oils and fats business of Amrit Banaspati.
The acquisition includes Amrit Banaspati's manufacturing facility at Rajpura in the state of Punjab, rights to its brands and trademarks, its sales and distribution business and the transfer of employees in the edible oils and fats business to Bunge India. Bunge India would also acquire rights to GAGAN, the vanaspati brand held by Amrit Corp., which is currently licensed to Amrit Banaspati.
The acquisition underscores Bunge’s commitment to growing its consumer food business in India, says Christopher White, CEO, Bunge Asia. The move also enables Bunge to expand its distribution reach, manufacturing base and brand portfolio.
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