New Delhi: Demonstrating the vision to develop affordable nutrition supplements that can reach masses and contribute to “Healthy India / Swastha Bharat”, Ruchi Soya Industries Limited has forayed into the nutraceuticals and wellness products segment.
The company is launching 100% vegetarian, preservative free nutraceutical products to be marketed under “Patanjali” and “Nutrela” branding in the medical, sports and general nutrition category.
Proposing to use the joint branding of “Patanjali” and “Nutrela” for packaging, promotion, advertising and marketing the range of initial ten products, the company has obtained a non-exclusive renewable license to use the “Patanjali” brand for which Ruchi shall pay Patanjali Ayurved Limited a royalty of 1% of the net manufactured volume.
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The entire range of the nutraceuticals and wellness products will be manufactured by Patanjali Ayurved Limited at the state of the art plant located at Patanjali Food and Herbal Park, Haridwar, under a contract manufacturing arrangement. The Patanjali Ayurved Limited has signed non-compete arrangement for all nutraceutical products under agreed arrangements.
The products will be distributed pan India across pharmacies, general stores, e-commerce platforms, health and wellness stores, gyms etc. including Patanjali exclusive stores viz Mega Stores, Chikitsalayas and Aarogya Kendras for which the company has entered into a distributor agreement with Patanjali Ayurved Limited .
The foray into nutraceuticals, breakfast cereals and noodle's product category underscores the company’s commitment to growing the consumer business.
As a part of its product expansion strategy, the company has successfully forayed into the product segment of honey, high protein atta, premium edible oil and biscuits in the last 18 months.
Ruchi Soya Industries Limited’s Board of Directors have also approved the execution of breakfast cereals and noodles assignment agreement between Patanjali Ayurved Limited (PAL) and the company for a consideration of Rs 3.50 crore.
The entire product range offers 100% vegetarian nutrition.