Forever Global Enterprises Limited (FGEL) has successfully completed the acquisition of the Meerganj manufacturing unit from Dhampur Bio Organics Limited through a slump sale transaction valued at INR 305 crore. The acquisition marks a significant milestone for FGEL as it enters the sugar manufacturing sector and advances its strategy of building a fully integrated sugar-to-spirits business platform.
Located in the Bareilly district of Western Uttar Pradesh, the acquired facility includes a sugar mill with a crushing capacity of 9,000 tonnes per day and a 23 MW cogeneration power plant. With the completion of the transaction, FGEL assumes full operational control of the facility and plans to leverage its strategic location in one of India’s most productive sugarcane-growing regions.
The acquisition forms part of a broader expansion programme involving a planned investment of approximately INR 760 crore. Future development at the Meerganj site will include a 200 KLPD grain-based distillery, a 100 KLPD molasses-based distillery and bottling facilities for country liquor and ready-to-drink beverages. Environmental approvals for the project have already been secured, and development planning is underway.
Once operational, the expanded facility is expected to create more than 1,000 direct and indirect employment opportunities while benefiting over 40,000 farmers across the region. The project is also anticipated to contribute significantly to local economic development through increased agricultural activity, industrial growth and supporting infrastructure.
The acquisition strengthens FGEL’s position within the ethanol and alcoholic beverages value chain by creating backward integration with the operations of Forever Distillery Private Limited, an affiliated company that operates a 200 KLPD multi-feed distillery in Deoria, Eastern Uttar Pradesh. By combining sugar production, ethanol manufacturing and bottling operations within a single ecosystem, FGEL aims to enhance operational efficiency and capture greater value across the supply chain.
The Meerganj facility processed more than 80 lakh quintals of sugarcane during the most recent crushing season and maintained a record of timely payments to farmers. FGEL plans to increase cane procurement beyond one crore quintals in the upcoming season while continuing to prioritize farmer engagement, cane development programmes and prompt payment practices.
The facility’s 23 MW cogeneration plant, supported by an existing power purchase agreement with Uttar Pradesh Power Corporation Limited, provides an additional revenue stream and supports the company’s commitment to sustainable industrial operations.
With this acquisition, FGEL strengthens its footprint in Western Uttar Pradesh and positions itself for long-term growth in the sugar, ethanol, power and beverages sectors. The company intends to build on the region’s agricultural strengths while creating value for farmers, employees, consumers and local communities through integrated and sustainable business operations.
