US Bunge completes acquisition of India edible oils, fats business

10 February 2012 11:49  [Source: ICIS news]

LONDON (ICIS)--Bunge has completed the acquisition of the edible oils and fats business of India’s Amrit Banaspati, the US-based agribusiness said on Friday.

The acquisition –  by subsidiary Bunge India – includes the fast-moving consumer goods producer’s plant at Rajpura in Punjab state, rights to the Amrit Banaspati brands and trademarks, and a sales and distribution business.

“This acquisition underscores Bunge’s long-term commitment to growing our consumer food business in India,” said Bunge Asia CEO Christopher White when the acquisition was announced in December last year.

“It enables us to expand our distribution reach, manufacturing base and brand portfolio to serve a growing customer base,” White added.

Amrit Banaspati chairman N K Bajaj said: “Subsequent to the transaction, Amrit Banaspati will continue to operate a commodities trading division and will explore venturing into real estate and other promising business opportunities.”

Financial and capacity details were not disclosed.

For more on Bunge visit ICIS company intelligence

By: Graeme Paterson
+44 20 8652 3214

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