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Chennai, April 22: Coimbatore-based Rajshree Sugars & Chemicals Limited has acquired entire equity shares of Trident Sugars Limited, a privately held 2,500 TCD (tonnes crushed per day) company based in Zaheerabad (Andhra Pradesh) for a consideration of Rs 62 crore in all cash deal.
An aggreement to this effect was signed between the company and B G Lohia, chairman of Trident Sugars Limited recently to acquire the latter’s 2,500 TCD capacity plant at Zaheerabad.
When contacted, Rajshree Pathy, chairman and managing director of Rajshree Sugars, told FE: "We are on an agressive growth strategy. We are looking to grow both organically as well as inorganically and the company will continue to look for acquisitions to cash in on the increased demand for sugar."
"Following the acquisition, the company’s overall capacity has gone up to 10,000 TCD," she said adding "the capacity of the Zaheerabad plant can be increased by 1,000 tonnes to 3,500 TCD and we will decide on the same soon."
According to her, "the acquisition is expected to add Rs 100 crore to the topline and proportionately to the bottomline in the current fiscal."
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