Riddhi Siddhi Gluco Biols to Acquire Cargill India's Karnataka Starch Plant

Riddhi Siddhi Gluco Biols Ltd (RSGBL) has agreed to acquire Cargill India's corn wet milling division in Davangere, Karnataka, including a 52-acre plant with a 3 lakh MT annual capacity for starch and sweetener products. The acquisition, valued at approximately Rs 250 crore according to sources, will expand RSGBL's presence in the starch industry and boost revenues by over Rs 800 crore. The deal, pending regulatory approvals, includes manufacturing facilities, warehouses, and corn silos. RSGBL plans to operate the plant using renewable energy, while Cargill exits this segment in India.