Keventer acquires Eicher food division
Kolkata, Apr 4 (UNI) City-based Kenventer Agro Limited (KAL), part of the Rs 1100 crore Keventer Group, has acquired the food division of Eicher International Limited.
The deal would help KAL to enter into the growing international food market.
''The strategic move will help the company tap the food pulp export market,'' KAL director Mayank Jalan said.
''We are open for more such acquisitions in future,'' Jalan said.
He did not disclose the deal value.
The Rs 2000 crore Eicher Group has presence in commercial vehicles, motor-cycles and engineering design services.
The food division of EIL is involved in export of fruit pulp and bakery ingredients.
Following the acquisition, KAL will have a ready access to markets in Middle East, Europe and South East Asia, where the EIL foods division was exporting.
EIL's products mainly included mango pulp, sesame seeds and bakery ingredients.
''KAL is aiming at Rs 200 crores from the export market within the next three years,'' Mr Jalan said the KAL will emphasis on mango pulp, seeds, guava pulp and other related products.
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