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Amrutanjan Health Care Ltd is set to foray into the beverages business with the acquisition of Siva's Soft Drink Pvt Ltd's Fruitnik brand.
The company today informed the stock exchange that it has entered into a pact with Siva's Soft Drink to acquire its soft drink and fruit-based beverages business along with the brand Fruitnik for Rs 26.20 crore. Fruitnik, a pulp-based flavoured fruit drink, is a 50-year-old brand well known in the South, particularly Tamil Nadu.
Amrutanjan has a prominent presence in the OTC pharma segment. It posted net profit of Rs 3 crore for the quarter ended December 2010 on a turnover of Rs 34 crore. For 2009-10, it posted a net profit of Rs 12 crore on a turnover of Rs 89 crore.
The scrip closed the day on BSE at Rs 639.40 — gaining 10.38 per cent from the previous day's close of Rs 579.25.
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