Riddhi Siddhi Gluco Biols Ltd. (RSGBL), a publicly listed company on the Bombay Stock Exchange (BSE), has signed an Asset Purchase Agreement
(APA) to acquire the assets of Cargill India Pvt. Ltd.’s (CIPL) Starch & Sweeteners business
in Davangere, Karnataka. The deal includes the acquisition of land, manufacturing facilities,
warehouses, and corn silos that provide integrated storage infrastructure supporting the corn wet
milling operations, subject to the terms and conditions of the APA and obtaining of customary
approvals.
Operational since 2016, the 52-acre facility boasts 300,000 MT annual processing capacity, and
manufactures maltodextrin, liquid glucose, and co-products like corn germ, corn gluten, and
corn fiber.
Commenting on the APA, Mr. Siddharth Chowdhary, Executive Director, RSGBL, said: “We
are pleased to have signed the APA to acquire Cargill India’s Davangere corn wet milling assets,
including land, warehouses, and corn silos. This acquisition aligns perfectly with RSGBL’s long-
term growth vision, expanding our footprint in food and pharmaceutical segments to better meet
unmet customer demand. The facility’s strategic Karnataka location bolsters our competitive
service to domestic and export markets. Additionally, our intent to operate the facility using
renewable energy sources reflects our long-term commitment to clean energy and sustainable
manufacturing.”
With over three decades in starch and starch derivatives, this move cements RSGBL’s leadership
in India’s starch industry through enhanced footprint and innovation.
Speaking on the transaction, Dheeraj Talreja – Vice President & Managing Director, Food
South Asia, Cargill India Pvt Ltd said, “We wish RSGBL success and are confident that this
asset will support their growth as they expand their presence in the starch industry”.
In India, Cargill has been operating since 1987 and currently has pan-India presence with
businesses spanning refined oils, food ingredients, industrial specialties, grain and oilseeds,
cotton, animal nutrition, and trade & capital markets.
About Riddhi Siddhi Gluco Biols Ltd.
Established in 1990, Riddhi Siddhi Gluco Biols Ltd. (RSGBL) was founded with the vision of
addressing India’s growing demand for starch and its value-added derivatives through scale,
innovation, and reliability. Over time, the company had emerged as a market leader in India’s
starch industry, building a strong global footprint and earning the trust of customers across food,
pharmaceutical, paper, textile, and industrial applications.
RSGBL has strategically evolved into an enterprise rooted in responsible business practices.
Sustainability is integral to its growth philosophy, reflected in focused investments across
renewable energy, water stewardship, and value-accretive ventures that enhance long-term
shareholder returns. By integrating sustainability across its value chain, RSGBL continues to
create long-term impact for farmers, customers, communities, and stakeholders, while supporting
a resilient and future-ready ecosystem.
About Cargill
Cargill is committed to providing food, ingredients, agricultural solutions, and industrial products
to nourish the world in a safe, responsible, and sustainable way. Sitting at the heart of the supply
chain, we partner with farmers and customers to source, make and deliver products that are vital
for living.
Our 155K+ employees innovate with purpose, providing customers with life’s essentials so
businesses can grow, communities prosper, and consumers live well. With 160 years of
experience as a family company, we look ahead while remaining true to our values. We put people
first. We reach higher. We do the right thing—today and for generations to come.
