Calcutta, Sept. 25: Emami Biotech has entered into an agreement with city-based Rasoi Ltd to acquire the latter’s vanaspati and edible oil brand Rasoi for less than Rs 25 crore.

Emami Biotech is the edible oil and bio-diesel arm of the Rs 8,000-crore Emami Group. The acquisition will add to Emami’s existing portfolio of edible oil brands such as Emami Healthy & Tasty and Himani Best Choice.

Rasoi has a sales turnover of around Rs 150 crore, with vanaspati accounting for 90 per cent of its revenues. Emami Biotech plans to ramp up the turnover to Rs 800-1,000 crore over 2-4 years.

“Rasoi is a heritage brand that enjoys very strong brand equity. It is a leading vanaspati brand in Bengal and one of the leading producers of vanaspati in India that enjoys a strong legacy of consumer trust. The brand offers synergy with our edible oil business that will offer great value,” said Aditya V. Agarwal, director of Emami Group.

Emami Biotech is expected to be a Rs 5,000-crore company by the end of this fiscal. The acquisition of Rasoi has been funded internally.

Meanwhile, Rasoi Group said it would set up a fully-owned manufacturing line of baby care products at its plant in Banganagar, Bengal by replacing the vanaspati and edible oil manufacturing base.