Shree Renuka Sugars, India’s largest refinery promoted by Singapore-based Wilmar Sugar Holdings with over 62 per cent share, has nearly finalised a deal to buy Anamika Sugar Mills, a standalone factory in Bulandshahr, Uttar Pradesh, at about Rs 200 crore.
While Shree Renuka Sugars officials were not available for comment, an email to Ashok Agarwal, a director at Anamika Sugar Mills, did not elicit a reply either.
Sugar industry officials said small mills in Uttar Pradesh were unable to compete against large companies that have expanded and modernised, adding distilleries for added profitability. More small mills are likely to be acquired by bigger players, they added.
Anamika Sugar Mills has a factory in Bulandshahr with sugarcane crushing capacity of 4,000 tonnes per day. It does not have any distillery, leaving scope for expansion, sources said.