Rasoi Ltd to venture into baby care products market
While the company will stop manufacturing vanaspati/edible oils, it will sell trademarks and copyrights related to 'Rasoi' brand to Emami Biotech Ltd for Rs 13 crores
Rakesh Rao B2B Connect | Mumbai
Rasoi Ltd’s manufacturing facility
Rasoi Ltd, a part of Raghu Mody-controlled The Rasoi Group, is planning to set up facility for baby care products at Banganagar, West Bengal, while exiting the vanaspati and edible oil business. The Board of Directors of the company has also decided to assign the trademarks and copyrights related to ‘Rasoi’ brand to Emami Biotech Ltd for a total consideration of Rs 13 crores.
To set up a state-of-the-art manufacturing facility for baby care products, Rasoi will use its existing land at its Banganagar factory, where it at present makes vanaspati and edible oils. The company will discontinue manufacturing of vanaspati and edible oils as this business has run into rough weather.
“The company's vanaspati/edible oil business has been facing difficult times for last few years. Production of vanaspati has become unviable due to heightened volatility in raw material prices and foreign exchange. As such, company is constrained to take the decision of discontinuing the production of the same at its factory at Banganagar, West Bengal. A state-of-the-art baby care products manufacturing line will commence from this factory and will replace the existing vanaspati/edible oil manufacturing,” said Rasoi Ltd in a BSE filing.
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First Published: Sep 26 2014 | 5:51 PM IST