New Delhi: FMCG firm Ruchi Soya Industries said it has sold its entire stake in joint venture (JV) firm, Ruchi Kagome Foods India, for Rs 63 crore.
In 2013, Ruchi Soya had announced the JV with Japanese tomato products firm Kagome Co and investment and trading firm Mitsui & Co to launch premium tomato puree, sauces, ketchup and other products in India. Besides this JV, Ruchi Soya has also tied up with J-Oil Mills and Toyota Tsusho Corporation to launch innovative products like functional healthy cooking oils in India.
It has also formed a JV with a Canadian Research company –- D J Hendrick — to offer high yielding non-GM soya seed varieties to Indian Farmers.
