Acquisitions11 Feb 2025, 08:49 pm
Aveer Foods Ltd. Approves Acquisition of Kamal Industries for Up to Rs. 25 Crs.
AI Summary
Aveer Foods Ltd. has announced the acquisition of Kamal Industries, a partnership firm, as a going concern on a slump sale basis for an aggregate consideration up to Rs. 25 Crs. The acquisition is expected to enable Aveer Foods to increase its footprint in its line of business in the southern region and allow consolidation of similar business operated by entities of the same group into a single entity. The acquisition is subject to approval of the shareholders, other statutory and/or regulatory approvals, and/or third party approval(s) / consent(s), and is expected to be completed by September 30, 2026.
Key Highlights
- Aveer Foods Ltd. to acquire Kamal Industries for up to Rs. 25 Crs.
- The acquisition is expected to increase Aveer Foods' footprint in the southern region.
- The acquisition will allow consolidation of similar business operations into a single entity.
- The acquisition is subject to approval of shareholders, regulatory authorities, and other third parties.
- The acquisition is expected to be completed by September 30, 2026.