Indian Firm Buys Cote d'Ivoire Cashew Giant

Pajson Agro India Ltd. has approved the acquisition of a 100% equity stake in Dubai-based Pacific Global FZCO, a cashew processing entity located in Cote d'Ivoire. The transaction, valued at ₹354.52 crore, will be completed through a preferential share issuance, avoiding any cash expenditure and integrating new shareholders with the company's long-term objectives. The acquisition is anticipated to finalize within two to three months, pending necessary approvals.

This strategic acquisition significantly enhances Pajson Agro's global presence by establishing a processing hub in Cote d'Ivoire, the world's largest producer of raw cashew nuts. This move ensures direct access to raw materials, improves quality control, and manages costs effectively. Upon completion, Pajson Agro's total processing capacity will increase to 1.13 lakh tonnes annually, incorporating its existing Indian facilities and a new greenfield project in Andhra Pradesh.

Pacific Global FZCO, through its subsidiaries, sources, processes, and markets cashew kernels to international clients across the US, Europe, West Asia, and China. For the period of January-August 2026, it reported a consolidated turnover of AED 40.32 million (₹104.18 crore) and a net worth of AED 135.92 million (₹351.20 crore) as of August 31, 2026.

In parallel, Pajson Agro's board also approved the Pajson Agro Employee Stock Option Scheme 2026 (ESOS 2026), aimed at attracting and retaining talent by offering eligible employees a stake in the company's growth. The board also approved an increase in the authorized share capital from ₹25 crore to ₹40 crore.