RSGBL Expands with Strategic Acquisition of Cargill Assets

Riddhi Siddhi Gluco Biols Ltd (RSGBL) has agreed to acquire the assets of Cargill India's starch and sweeteners business in Davangere, Karnataka. This acquisition enhances RSGBL's capacity in the food and pharmaceutical sectors and aligns with its sustainable energy goals, reinforcing its position in India's starch industry.

Riddhi Siddhi Gluco Biols Ltd (RSGBL) announced on Monday its agreement to acquire the assets of Cargill India's starch and sweeteners business located in Davangere, Karnataka. The financial details of the deal remain undisclosed.

The acquisition covers 52 acres of land including manufacturing facilities, warehouses, and corn silos supporting corn wet milling operations, pending customary approvals. The plant, operational since 2016, can process 300,000 tonnes annually, producing products such as maltodextrin, liquid glucose, and corn co-products.

This move aligns with RSGBL's vision to expand its presence in the food and pharmaceutical sectors while also committing to renewable energy for sustainable manufacturing. RSGBL, backed by over 30 years of experience, aims to strengthen its position in India's starch industry with this strategic acquisition.

(With inputs from agencies.)