(08.06.2012 / sha)

Roquette: Acquisition of leading Indian starch manufacturer

Roquette, one of the global leaders in the starch industry announced the acquisition of the three starch production sites of the leading Indian starch manufacturer, Riddhi Siddhi Gluco Biols Ltd.

Roquette takes the majority share in the new company to be called « Roquette - Riddhi Siddhi ». By investing in new capacities and bringing value added products, Roquette will reinforce its leadership on the Indian market.

Roquette took a 14.9% shareholding in Riddhi Siddhi Gluco Biols Ltd in 2006 and established a strategic alliance with this family-owned company. The company achieved a turnover of USD 200 million in 2011, holding 25% market share in India and employing over 1,000 staff. Riddhi Siddhi Gluco Biols Ltd is the leader in India in the starch production with 3 production sites: Gokak (Karnataka), Pantnagar (Uttarakhand) and Viramgam (Gujarat).

These three corn-starch plants are now part of “Roquette - Riddhi Siddhi”. The new company, headquartered in Ahmedabad (Gujarat) will continue with M. Ganpatraj
Chowdhary as managing director, founder and former CEO of Riddhi Siddhi Gluco Biols Ldt. Guy Talbourdet, Roquette Group CEO commented: “We are very excited to bring the new Indian team on board and look forward to its quick integration into Roquette Group”.