This acquisition will help MK Agrotech strengthen its presence in Maharashtra and is a part of the company’s efforts towards making Sunpure a national brand
Bengaluru: Karnataka-based edible oil brand Sunpure has acquired Riso, an oil brand from Maharashtra. With this acquisition MK Agrotech, the parent company of Sunpure, aims to bolster Sunpure’s presence in the Maharashtra market, targeting a revenue of Rs.120 crore in the fiscal year 2023-’24 from the region.
“We have been looking at brands across geographies to help expand Sunpure’s footprint and diversify into different edible oils and food products. We are thrilled to start this new chapter of growth with Riso, a much-loved edible oil brand across Maharashtra,” Gokaran Singh Pawar, national sales head of MK Agrotech said.
Riso’s product portfolio includes groundnut oil, rice bran oil and sunflower oil. It is available across 8000+ retail outlets in Maharashtra.
In its journey towards becoming a national brand, Sunpure is open to more such acquisitions in the future and plans to make dedicated investments in brand building, marketing and distribution, the company stated in a press release.
Sunpure was founded in 1996 and currently the brand is present in eight states across South India including Karnataka, Andhra Pradesh, Telangana, Tamil Nadu, Maharashtra, Goa, and Kerala.