Key Points
New Delhi [India], July 1 (ANI): The board of Patanjali Foods Limited on Monday said it has approved the proposal of Patanjali Ayurved Limited to acquire its home and personal care (HPC) business...
The home and personal care business of Patanjali Ayurved currently has a strong brand equity in Indias FMCG space and enjoys a loyal consumer base across the country...
As per a company release, this strategic initiative for acquisition of home and personal care business shall strengthen the companys existing FMCG product portfolio with an array of marquee brands and also contribute to the growth in terms of revenue and EBITDA...
As per the release, Patanjali Foods prepares to acquire the entire home and personal care business of Patanjali Ayurved on a going concern basis, and includes all the assets and liabilities attributable to the business, relevant employees, distribution network, contracts, licenses, permits, consents, and approvals integral to this operation (hereafter referred to as the Business Undertaking)...
Accordingly, they have also agreed to enter into a licensing agreement permitting to use the trademarks and associated intellectual property rights, owned by Patanjali Ayuved, that relate to the product portfolio of the home and personal care business...
