As part of the growth strategy for the Sugar business, EID Parry India Limited, has acquired 76% stake in the equity of M/s Sadashiva Sugars Limited based in Bangalore with its factory at Bagalkot, Karnataka.
EID Parry is a leading manufacturer of sugar in Tamil Nadu and Puducherry with 5 factories having sugarcane crushing capacity of 19000 TCD and a Cogen capacity of 84.5 MW. It also operated two distilleries with a capacity of 135 klpd. This acquisition will be EID Parry Sugar Division's first entry into Karnataka.
Sadashiva Sugars has its headquarters in Bangalore and factory at Nagaral Nainegali, Bagalkot District, Karnataka. The factory has capacity to crush sugarcane of 2500 TCD and has a Cogen capacity of 15.5 MW. This is a new unit currently being commissioned.
Source: Equity Bulls