Indian FMCG company Patanjali Ayurved Limited has announced that it will be renaming Ruchi Soya, the edible oil manufacturer it acquired in 2019, as Patanjali Foods Company. The move is part of the company’s efforts to expand its food business and compete with multinational giants. The announcement has led to a surge in the company’s stock prices, with investors optimistic about the company’s future prospects.
Ruchi Soya to be renamed Patanjali Foods Company
Ruchi Soya, which was acquired by Patanjali Ayurved Limited in 2019, will be renamed as Patanjali Foods Company. The move is in line with the company’s strategy to expand its food business and increase its presence in the domestic market.
Company board approves name change
The decision to rename Ruchi Soya was approved by the board of Patanjali Ayurved Limited. The move is expected to help the company establish its brand identity in the food industry and strengthen its position in the market.
Patanjali Foods Company stock surges
Following the announcement of the name change, Patanjali Ayurved Limited’s stock prices surged by over 5%. The move has been welcomed by investors, who are optimistic about the company’s future prospects in the food industry.
Ruchi Soya acquisition by Patanjali
Patanjali Ayurved Limited acquired Ruchi Soya in 2019 for a sum of Rs. 4,350 crore ($613 million). The acquisition was part of the company’s efforts to expand its presence in the food industry and increase its market share.
Ayurveda company expands food business
Patanjali Ayurved Limited, which started as an Ayurvedic medicine company, has been expanding its presence in the food industry in recent years. The company has launched a range of food products, including noodles, biscuits, and health drinks, in an effort to cater to the growing demand for healthy and organic food products.
Patanjali eyes domestic market growth
Patanjali Ayurved Limited has been focusing on increasing its presence in the domestic market, which is currently dominated by multinational companies. The company has been launching new products and expanding its distribution network in an effort to capture a larger share of the market.
Ruchi Soya takeover boosts Patanjali
The acquisition of Ruchi Soya has helped Patanjali Ayurved Limited increase its market share in the food industry. The company has been able to leverage Ruchi Soya’s production facilities and distribution network to expand its presence in the market.
Patanjali aims to become top FMCG player
Patanjali Ayurved Limited has ambitious plans to become one of the top FMCG players in the country. The company has been investing heavily in research and development, marketing, and distribution to achieve this goal.
Ruchi Soya acquisition to increase production
The acquisition of Ruchi Soya has helped Patanjali Ayurved Limited increase its production capacity for edible oils and other food products. The company has been able to use Ruchi Soya’s facilities to expand its product range and improve its supply chain.
Patanjali plans to double its revenue
Patanjali Ayurved Limited has set a target of doubling its revenue to Rs. 20,000 crore ($2.8 billion) by 2021. The company has been investing heavily in new product development, marketing, and distribution to achieve this target.
Patanjali aims to compete with multinational giants
Patanjali Ayurved Limited has been focusing on competing with multinational giants in the FMCG industry. The company has been leveraging its brand image and focus on healthy and organic products to differentiate itself from established players in the market.
Ruchi Soya acquisition to create employment opportunities
The acquisition of Ruchi Soya has created employment opportunities for thousands of people in the food industry. The company has been able to retain Ruchi Soya’s workforce and has been investing in training and development to improve their skills and productivity.
Patanjali Ayurved Limited’s decision to rename Ruchi Soya as Patanjali Foods Company is part of its larger strategy to expand its presence in the food industry and compete with multinational giants. The acquisition of Ruchi Soya has helped the company increase its market share and production capacity, and has created employment opportunities for thousands of people. With ambitious plans to double its revenue and become one of the top FMCG players in the country, Patanjali Ayurved Limited is poised for growth in the years to come.
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