Ruchi Soya Now Patanjali Foods
Ruchi Soya Now Patanjali Foods Limited
Ruchi Soya is the largest manufacturer of edible oil in India. It was acquired by Patanjali Ayurved in 2019.
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Baba Ramdev-led Patanjali Ayurved Ltd will sell its food retail business to group firm Ruchi Soya Industries Ltd for ₹690 crore as part of its strategy to focus on non-food, traditional medicine and wellness business. Patanjali Ayurved Ltd had acquired Ruchi Soya through an insolvency process.
Yoga guru Swami Ram Dev, his younger brother Ram Bharat and close aide Acharya Balkrishna will be on the board of soya food brand Nutrela-maker Ruchi Soya that was recently acquired by Patanjali Ayurved.
Ruchi Soya Now Patanjali
Patanjali Foods Limited,
Ruchi Soya Industries Limited has decided to change its name to “Patanjali Foods Limited”. The company, in a filing, said that it will be taking over the food retail business of Patanjali Ayurved Limited.
The name of Ruchi Soya will be changed to Patanjali Foods post-acquisition. Ruchi Soya said that its board has decided to change the name of company from “ Ruchi Soya Industries Limited” to “Patanjali Foods Limited” subject to statutory and regulatory approvals.
Patanjali Ayurved Ltd
Baba Ramdev-led Patanjali Ayurved Ltd will sell its food retail business to group firm Ruchi Soya Industries Ltd for ₹690 crore as part of its strategy to focus on non-food, traditional medicine and wellness business. Patanjali Ayurved Ltd had acquired Ruchi Soya through an insolvency process.
The board of Patanjali Ayurved has approved this transfer of food business to Ruchi Soya Industries with effect from May 9 2022.
Patanjali Ayurved acquired Ruchi Soya under the Insolvency and Bankruptcy Code proceedings in 2019 for Rs 4,350 crore.
Sanjeev Asthana (6 July 2020- ) RuchiSoya/PatanjaliFoods CEO.
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