India-based edible oil and food company, Adani Wilner and Ruchi Soya Industries have partnered to launch a joint venture company for the purpose of procuring, marketing, and distributing soy-based foods, oilseeds, and biodiesel in India reports Business Standard.
Under the terms of the venture, Adani Wilmer, Adani Enterprises, and Wilmer International will hold 66.66% of the new company while Ruchi Soya will hold 33.34%, with the new joint venture having the right to originate, market, and distribute the finished products of both Adani Wilmar and Ruchi Soya on the Indian market totaling 1.3 billion consumers.
“The name of this new company will be decided after we form the company and complete all legalities,” said Atul Chaturvedi, chief executive of Adani Wilmer. “The investments and the new brand name are yet to be decided.”
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