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News @ Jains - Jain Irrigation acquires Mango Processing Business From Parle Bisleri Pvt Ltd, Mumbai

Jain Irrigation Systems Limited (JISL), a Jalgaon based Processed Fruit & Vegetable Major, has acquired Mango Processing Business from Parle Bisleri Pvt Ltd, Mumbai, at an aggregate consideration of Rs.14 crores as an on-going business.

Through this acquisition, JISL has acquired two Mango Processing Facilities at Chittoor in South India in the midst of largest mango growing region in the country. With this, JISL has built capacity of about 58000-60000 MTs of mango processing amongst its Jalgaon (MS), Hyderabad & Chittoor (AP) Plants. The new business also comes with existing customer base for exports to Middle East & South East Asia. Parle Bisleri’s revenue for the current year from this Division is likely to be Rs. 35 crores. The acquisition will help JISL increase market penetration in these regions and result in significant savings including freight & raw material procurement costs. Benefits of the transaction will flow in JISL books from F.Y. 2006-07.

The acquisition makes JISL the largest Processor of Fruits & Vegetables in the country and possibly the biggest Mango Pulp Processor in the organized sector, said Mr. Anil Jain, MD of JISL after inking the deal.

Jain Irrigation’s Fruit Processing Division is a Supplier of processed tropical fruits. The turnover for the Division is estimated at Rs.60 crores with exports contributing estimated Rs.30 crores in F.Y. 2005-06. Domestically the Division supplies to the users of fruit pulp like Coke (Maaza).

India is the second largest producer of fruits in the world. However, only about 4% of the fruits produced are getting processed, as against 50% in Israel, 70% in Brazil & USA and 83% in Malaysia. The Fruit Processing Sector in India has grown by about 20% while the demand for fruit juices in the country is growing at about 40%.

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