Godrej Industries announced to buy Savannah Surfactants Limited’s food additives and emulsifier business for INR 76 crore. In a regulatory filing on Tuesday, Godrej Industries stated they have signed a ‘Business Transfer Agreement’ with Savannah Surfactants Limited (Goa) to acquire this part of their business.
Savannah Surfactants produces 5,200 tonnes of additives & emulsifier
According to ET Retail, the deal is worth about INR 76 crore. Godrej Industries said, “As a leader in oleochemicals, surfactants, specialties, and biotech, this deal will help us expand our products for the Food & Beverages segment.” Savannah Surfactants Ltd, based in Goa, can produce 5,200 tonnes of finished products per year.
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Further, Vishal Sharma, Executive Director and CEO of Godrej Industries (Chemicals), said, “In line with our strategy, the acquisition of this unit in the food ester and emulsifier business will help us to grow our speciality chemicals business. This acquisition is aligned with our commitment towards sustainable growth and innovation.” Meanwhile, the industry is one of the group’s oldest businesses, established in 1963.
Notably, the company has two manufacturing locations in Maharashtra and Gujarat, as well as an R&D centre in India. It operates in several segments including home and personal care, oil and gas, agrochemicals, pharmaceuticals, rubber, chemical and polymer intermediaries, and lubricants and metalworking fluids.
