Pajson Agro to acquire Pacific Global FZCO in all-stock deal

Pajson Agro India Ltd’s board has approved the acquisition of a 100 per cent equity stake in Pacific Global FZCO, Dubai (UAE), an origin-based cashew processing platform with installed capacity of 60,000 tonnes of raw cashew nuts per annum in Cote d’Ivoire. The total consideration is ₹354.52 crore, paid entirely through a share swap.

The company will issue up to 1,20,58,397 equity shares of face value ₹10 each, at ₹294 per share, to Pacific Global’s shareholders through a preferential issue. The deal involves no cash outflow and values the acquisition at about 1.0x Pacific Global’s net worth.

It is subject to shareholder and other applicable approvals, and is expected to close within roughly two to three months after that.

Pajson Agro India is a vertically integrated cashew processing company with farm-gate sourcing across key producing origins. Pacific Global, through its wholly owned subsidiaries, procures raw cashew nuts, manages inventory and processes them into cashew kernels. Those kernels are sold to international customers in the US, Europe, West Asia and China.

For January to August 2026, Pacific Global reported consolidated turnover of AED 40.32 million (₹104.18 crore). Its consolidated net worth stood at AED 135.92 million (₹351.20 crore) on August 31, 2026.

Cote d’Ivoire is the world’s largest producer of raw cashew nuts, and, according to a company media statement, a processing footprint at source strengthens control over raw material access, quality and cost.

On completion, combined capacity would reach 1.13 lakh tonnes. That comprises the existing 18,000 tonnes in India, a 35,000 tonne greenfield facility being set up at Vizianagaram in Andhra Pradesh, and the 60,000 tonnes in Cote d’Ivoire.

Processing at origin while serving multiple international markets also provides a natural hedge across sourcing, geographies and end-markets, according to the company.

Aayush Jain, Promoter, Chairman and Managing Director of Pajson Agro, said: “This acquisition is a defining milestone in Pajson Agro’s journey. It takes us from a local processor to a company with a global strategic footprint, right at the origin.”

Pulkit Jain, a promoter and non-executive director of Pajson Agro and majority shareholder of Pacific Global, will take his consideration entirely in Pajson Agro shares. He said: “I have chosen to receive the entire consideration in Pajson Agro shares, not cash. This reflects my confidence in the company’s long-term prospects and keeps my interests aligned with those of every Pajson Agro shareholder.”