ITC Ltd

ITC Ltd's Strategic Acquisition to Fuel Food Sector Growth!

📊 Key Highlights:

- ITC Limited acquires 100% of Ample Foods Private Limited (AFPL) and Meat and Spice Private Limited (MSPL) as of February 6, 2025.

- Acquisition includes Chao Chao Foods Private Limited, a subsidiary of AFPL.

- Total estimated investment: Rs. 131 crores, with 43.8% stake expected to close by March 31, 2025.

- ITC plans to acquire a total of 100% stake within three years, targeting completion by June 2028.

- Target companies are key players in ready-to-cook meals, frozen foods, and sauces, with AFPL generating Rs. 131 crores in consolidated revenue for FY 2023-24.

- The frozen, chilled, and ready-to-cook foods market in India is valued at over Rs. 10,000 crores and is rapidly expanding.

- This acquisition aligns with ITC's strategy to enhance its Food category portfolio in high-growth sectors like Pan Asian foods and deli meats.

- ITC's previous success with the ‘ITC Master Chef’ brand positions them well in the frozen foods market.