Corporate News 18-May-22
Board of Ruchi Soya approves acquisition of Patanjali's food retail biz
At meeting held on 18 May 2022
The Board of Ruchi Soya Industries at its meeting held on 18 May 2022 has approved the business transfer agreement with Patanjali Ayurveda (PAL) to acquire the food retail business undertaking of PAL which consists of manufacturing, packaging, labelling and retail trading of certain food products along with manufacturing plants located at Padartha, Haridwar, and Newasa, Maharashtra (Food Retail Business Undertaking), as a going concern on a slump sale basis.
The Board also approved change in company name to Patanjali Foods.
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