This acquisition is in-line with GRM's strategic plan to expand capacity and develop a warehouse closer to the Mundra port to augment exports.
"The deal is valued at Rs 12 crore and has been funded through a combination of bank borrowings and internal accruals," the company said in a statement.
The acquired facility includes land, building and two Sortex plants and has a production capacity of 800 tonnes per day. The company has also purchased a large plot of land adjoining the plant to develop a warehouse, it said.
"Further, the additional warehousing capacity near the Mundra port will lower lead times for our export order deliveries, thus, improving efficiency and productivity in our business cycle," Garg added.
GRM said the new plant will serve the export markets whereas the Panipat plants will focus on serving domestic as well as the export demand.
GRM sells basmati rice and premium long-grain rice grown only in certain regions of the Indian sub-continent under its flagship brands Tanoush', Himalaya River' as well as third-party brands.
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