date:Feb 02, 2014
Amira Nature Foods, the UAE-based provider of packaged Indian specialty rice, has closed the takeover of a Germany-based premium branded rice distributor Basmati Rice.
The financial terms of the transaction have not been divulged.
Basmati Rice offers ten varieties of rice under the ATRY, Scheherazade, Sultan, Sativa and Sadry brands. The company generated revenues of $9m in 2013.
The acquisition is expected to be accretive to Amira's current fiscal year 2014 earnings.
Amira chairman and chie