Sanjiv Asthana, CEO, Patanjali Foods On Its Decision To Buy Patanjali Ayurved Non-Food Business

Patanjali Foods is set to acquire the non-food operations of Patanjali Ayurved in a related party transaction for ₹1,100 cr, which will be paid in five tranches, the company informed the stock exchanges. The five payment tranches would be subject to multiple conditions and on achieving certain statutory milestones during the acquisition process, it said. Patanjali Foods will acquire the haircare, skincare, dental care and home care business of Patanjali Ayurved, including all assets, contracts, licenses, employees and liabilities, on a going concern basis by way of a slump sale. Listen to Sanjiv Asthana, CEO, Patanjali Foods about the challenges the group has faced over the past few month, including those related to advertisements and claims considered by many as misleading, regulatory scrutiny over food safety norms, and controversy over claims related to treatment of COVID-19.