Bunge acquires edible oils and fats businesses of Amrit Banaspati

Bunge India, the subsidiary of American agribusiness company Bunge, has completed the acquisition of edible oils and fats businesses of India-based Amrit Banaspati.

It has also completed the acquisition of rights to Gagan, a hydrogenated vegetable oil brand owned by Amrit Corporation, the parent company of Amrit Banaspati.

According to Bunge India, the acquired brands coupled with capable employees and a strong distribution network, open up opportunities for synergistic collaboration with the company, creating incremental value for the combined operations.

In December, Bunge India announced its intent to acquire edible oils and fats business of Amrit Banaspati for approximately INR2.21bn ($43.67m), and the rights to Gagan brand for an estimated INR1.04bn ($20.55m).

Amrit Banaspati's edible oil and fats business includes brands such as Amrit, Bansari and Ginni, and a manufacturing plant in the state of Punjab that features equipment and facilities for refining crude edible oils, palm oil fractionation, hydrogenation, margarine production and packaging.

Amrit Corporation, established in 1940, is engaged in the milk business, producing a range of UHT milk products for the food service sector, and also has a real estate division.

Bunge India originates, refines and markets a wide portfolio of edible oils and fats to cater to food manufacturers, food service companies and consumers across India, and it owns consumer brands such as Dalda, Masterline and Chambal.