New Delhi: Amrutanjan Health Care Ltd will acquire soft drink and fruit beverages business of Siva’s Soft Drink Pvt. Ltd. for Rs 26.20 crore. The acquisition will also include transfer of the brand Fruitnik, the company told stock exchanges early on Thursday.
Fruitnik, a pulp based flavoured fruit drink was established in 1958 and is a well known brand down south and Chennai based Amrutanjan Health is known for selling pain relief balm by the same name.
Stock price of Amrutanjan rose by 1.51% on the Bombay Stock Exchange at 9.35am to Rs 588 a piece.