Pajson Agro India Ltd, a vertically integrated cashew processing company, has approved the acquisition of a 100% stake in Dubai-based Pacific Global FZCO for ₹354.52 crore through an all-share deal.
Pacific Global operates a cashew processing platform in Côte d’Ivoire, with an installed capacity of 60,000 tonnes of raw cashew nuts (RCN) annually. The transaction is expected to transform Pajson Agro from an India-based processor into an origin-integrated global cashew business.
Combined processing capacity to reach 1.13 lakh tonnes
Following completion, Pajson Agro’s combined processing capacity is expected to reach 1,13,000 tonnes. This will include its existing 18,000-tonne capacity in India, a 35,000-tonne greenfield facility being set up at Vizianagaram in Andhra Pradesh, and Pacific Global’s 60,000-tonne facility in Côte d’Ivoire.
Côte d’Ivoire is the world’s largest producer of raw cashew nuts. The processing presence at origin is expected to strengthen the company’s access to raw materials and improve control over sourcing, quality and costs.
Pacific Global serves international markets
Through its wholly owned subsidiaries, Pacific Global procures raw cashew nuts, manages inventory and processes them into cashew kernels. Its customers are spread across the US, Europe, the Middle East and China.
For January-August 2026, Pacific Global reported consolidated turnover of AED 40 million (₹104 crore). Its consolidated net worth stood at AED 136 million (₹351 crore) as of August 2026.
Acquisition to be settled through share swap
The consideration will be discharged entirely through a preferential issue of up to 1,20,58,397 equity shares of Pajson Agro, with a face value of ₹10 each, at an issue price of ₹294 a share.
The all-stock transaction involves no cash outflow and values the acquisition at approximately one time Pacific Global’s net worth. The structure also aligns the incoming shareholders with Pajson Agro’s long-term growth.
The transaction is expected to be completed within two to three months.
Company targets global leadership
“It takes us from a local processor to a company with a global strategic footprint, right at the origin. Côte d’Ivoire is the world’s largest producer of raw cashew nuts, and 60,000 tonnes of processing capacity there places us at the centre of global supply,” Pajson Agro India, Promoter, Chairman and Managing Director, Aayush Jain, said.
“With combined capacity scaling to 1,13,000 tonnes, we are building scale not just for India but for the world, and we are clearly targeting a leadership position in the cashew industry,” he said.
Management comment
“As the majority shareholder of Pacific Global, I have chosen to receive the entire consideration in Pajson Agro shares, not cash. This reflects my confidence in the company’s long-term prospects and keeps my interests aligned with those of every Pajson Agro shareholder,” Pajson Agro India, Promoter and Non-Executive Director, Pulkit Jain, said.
The company expects the expanded sourcing and processing footprint to support its ambition of serving both Indian and international markets. Its consumer brand, Royal Mewa, is part of its growing presence in the cashew value chain.