US agribusiness giant Bunge has announced that its Indian subsidiary, Gee Pee Ceval Proteins and Investment, has acquired the India-based assets of Prestige Foods.
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Bunge said the assets acquired include an oilseed processing unit with an integrated vegetable oil refinery and packaging facility and production capacity of 150 tons per day of refined oil and 100 tons per day of vanaspati, a butter substitute used in India.
The company said the acquisition is part of Bunge’s continuing expansion in the Indian oilseed processing market, following its purchase of Hindustan Lever’s edible oils business in August.
