Patanjali Foods gets CCI nod for Rs 1,100-cr buyout of parent's home & personal care business

The Competition Commission of India (CCI) connected Tuesday cleared the projected acquisition of the location and idiosyncratic attraction concern of Patanjali Ayurved by Patanjali Foods successful a Rs 1,100 crore deal. "The projected operation involves the acquisition of Patanjali Ayurved Ltd's (PAL) Home and Personal Care (HPC) concern part (nonfood business) by Patanjali Foods Ltd (PFL)," the CCI said successful a release.

Patanjali Foods is engaged successful processing of oilseeds, refining of crude lipid for edible use, accumulation of lipid meal, nutrient products from soya and value-added products from downstream and upstream processing.

It is besides engaged successful the concern of fast-moving user goods, accelerated moving wellness goods comprising chiefly of food, biscuits and nutraceutical products and engaged successful procreation of powerfulness from upwind vigor and trading successful assorted products.

Patanjali Ayurved is engaged successful the concern of manufacturing, trading, packing and labelling of ayurvedic medicines, HPC items specified arsenic dairy items and bulk trading of rice, etc.

The HPC part encompasses products nether haircare, skincare, dental attraction and location attraction segment.
In July this year, edible lipid large Patanjali Foods announced that it volition get Baba Ramdev-led Patanjali Ayurved's location and idiosyncratic attraction concern for Rs 1,100 crore, arsenic portion of its efforts to go a starring FMCG company.

Patanjali Ayurved is 1 of the promoters of Patanjali Foods. The acquisition falls nether related enactment transactions being undertaken connected a just worth and arms' magnitude basis.

Patanjali Foods, which was acquired by the PAL done an insolvency process, had posted a full gross of Rs 31,961.62 crore successful the past fiscal arsenic against Rs 31,821.45 crore successful the preceding year.