Tribune News Service
New Delhi, May 30
Ruchi Soya Industries and Adani Wilmar, a joint venture between Adani Enterprises and Wilmar International, today announced that they have agreed to combine their respective procurement, marketing, distribution and sales businesses, for FMCG products.
The new joint venture company will cater to increasing domestic food demand, driven by the growing Indian population and rising per capita consumption levels.
It is proposed that Adani and Wilmar will, through Adani Wilmar, jointly hold an equity stake of 66.66% in the joint-venture and Ruchi Soya will hold 33.34%.
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