Acquisitions5 Apr 2025, 12:18 am
ITC Ltd Acquires 43.75% Stake in Ample Foods Private Limited for ¥ 131 Crores
AI Summary
ITC Ltd has acquired 2,62,500 Equity Shares of Ample Foods Private Limited (AFPL) for an aggregate consideration of approximately ¥ 131 crores. This acquisition increases ITC's shareholding in AFPL to 43.75%. AFPL is engaged in the business of manufacturing and selling ready to cook snacks & meals, sauces & condiments, raw & deli meat, local & international marinades, cheese and frozen foods & snacks under the brand names ‘Prasuma’ and ‘Meatigo’. The acquisition is in line with ITC’s strategy to augment its future ready portfolio and fortify its presence in the high growth segments of the frozen, chilled and ready to cook foods industry in India.
Key Highlights
- ITC Ltd acquires 43.75% stake in Ample Foods Private Limited for ¥ 131 crores
- Ample Foods Private Limited is engaged in the business of manufacturing and selling ready to cook snacks & meals, sauces & condiments, raw & deli meat, local & international marinades, cheese and frozen foods & snacks under the brand names ‘Prasuma’ and ‘Meatigo’
- The acquisition is in line with ITC’s strategy to augment its future ready portfolio
- The acquisition will fortify ITC’s presence in the high growth segments of the frozen, chilled and ready to cook foods industry in India
- Ample Foods Private Limited is a separate entity with no interest from ITC Ltd or its group companies