The Competition Commission of India (CCI) on Tuesday cleared the proposed acquisition of Patanjali Ayurved’s home and personal care business by Patanjali Foods in a Rs 1,100-crore deal.
“The proposed combination involves the acquisition of Patanjali Ayurved Ltd’s (PAL) Home & Personal Care (HPC) business division (non-food businesses) by Patanjali Foods Ltd (PFL),” the CCI said in a statement.
Patanjali Foods is engaged in oilseed processing, crude oil refining for edible use, oilmeal production, soybean food products and value added products from downstream and upstream processing.
It is also engaged in the business of fast-moving consumer goods, fast-moving healthcare products, mainly consisting of food, biscuits and nutraceutical products, and is engaged in power generation from wind energy and trading of various products.
Patanjali Ayurved is engaged in the business of manufacturing, marketing, packaging and labeling of Ayurvedic medicines, HPC items like dairy products and bulk trading of rice etc.
The HPC division covers products in the hair care, skin care, dental care and home care segments.
In July this year, edible oil major Patanjali Foods announced that it will acquire Patanjali Ayurved’s home and personal care business, headed by Baba Ramdev, for Rs 1,100 crore, as part of its efforts to become a leader in consumer goods.
Patanjali Ayurved is one of the promoters of Patanjali Foods. The acquisition is part of transactions with related parties that are carried out at fair value and under market conditions.
Patanjali Foods, which was acquired by PAL through insolvency proceedings, had reported total revenue of Rs 31,961.62 crore in the last fiscal year, up from Rs 31,821.45 crore in the previous year.
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