Riddhi Siddhi Gluco Biols Ltd (RSGBL), a leading player in the starch and starch derivatives segment, has acquired the corn wet milling division of Cargill India Pvt Ltd along with associated corn silos and integrated assets at Davangere, Karnataka.
The acquisition will increase RSGBL’s total milling capacity to 9.55 lakh tonnes per annum (TPA) from 6.55 lakh TPA, enhancing its scale in food and pharmaceutical ingredient markets while strengthening its footprint in southern India and export markets.
Capacity expansion
The acquired 52-acre facility, operational since 2016, has an annual processing capacity of 3 lakh tonnes. It manufactures products such as maltodextrin and liquid glucose, along with co-products including corn germ, corn gluten and corn fibre.
Riddhi Siddhi Gluco Biols Ltd, Siddharth Chowdhary, Executive Director, said, “The acquisition reflects an important step in our long-term growth journey, strengthening our manufacturing capabilities and expanding our presence in food and pharmaceutical segments. The strategic location of the Davangere facility strengthens our ability to efficiently serve both domestic and export markets.”
Strategic rationale
With over three decades of experience in the starch industry, RSGBL is expected to benefit from enhanced production capacity, improved geographic reach and better ability to meet evolving customer demand.
Cargill India Pvt Ltd, Dheeraj Talreja, Vice President & Managing Director, Food South Asia, said, “We wish RSGBL success and are confident that this asset will support their growth as they expand in the starch industry.”
Company presence
Cargill has been operating in India since 1987 with a diversified presence across refined oils, food ingredients, industrial specialties, grain and oilseeds, cotton, animal nutrition, and trade and capital markets.