US food processing giant Archers Daniels Midland Company through its subsidiary, ADM Agro Industries has acquired the Rs. 650 crore ($145 million) edible oil maker Geepee Agri. 

The majority shareholder in Noida-based Geepee Agri is Thailand’s Siam Stock Holdings (an associate of GP Group) and Rabo Private Equity backed India Agri Business Fund.

Khaitan, Jayakar, Sud & Vohra advised Siam Stock Holdings and India Agri Business Fund to divest their entire shareholding in Geepee with a team led by Partners Malini Sud and Ashutosh Khaitan along with Senior Asociates Deepak Khurana and Kanishk V Shahi and Associate Shweta Saxena.

O. P Khaitan & Co advised ADM Agro with a team led by Partner Gautam Khaitan along with Senior Associates Arihant Jain and Nidhi Mathur.

Dealcurry reports, the deal will expand Archers Daniels business in India which already operates in India through a JV with the Delhi-based Tina Oils and Chemicals Ltd.

According to TOI, the move is part of the $61-billion Illinois-based company’s strategy to bulk up production and secure grain procurement in times of rocketing food inflation.

Geepee has two plants at Kota in Rajasthan and Akola in Maharshtra. Geepee operates Parampara brand in the local edible oil market.

ADM has existing plants at Latur and Nagpur through recent acquisitions, and the latest buyout will see it almost doubling the crushing and refining capacities.

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