Riddhi Siddhi GlucoBiols Ltd. (RSGBL), a BSE-listed company, has signed an Asset Purchase Agreement to acquire Cargill India Pvt. Ltd.’s starch and sweeteners business assets in Davangere, Karnataka, subject to customary approvals. The acquisition includes land, manufacturing facilities, warehouses, and corn silos supporting integrated corn wet milling operations.
Operational since 2016, the 52-acre facility has an annual processing capacity of 300,000 MT and manufactures maltodextrin, liquid glucose, and co-products such as corn germ, corn gluten, and corn fiber.
Commenting on the development, Siddharth Chowdhary, Executive Director, RSGBL, said the acquisition aligns with the company’s long-term growth strategy, strengthening its presence in food and pharmaceutical segments while enhancing service to domestic and export markets. He also highlighted RSGBL’s intent to operate the facility using renewable energy.
The transaction further reinforces RSGBL’s leadership in India’s starch industry. Cargill India stated that the asset will support RSGBL’s future growth as it expands its starch portfolio in the country.
