ITC to buy 24 Mantra Organic for ₹472.5 crore to power its healthy foods portfolio

In a decisive step to support its fingerprint in the rapidly growing organic food sector, ITC Limited clarified the stock purchase agreement to obtain 100 % of Sresta Natural Biuproducts Private Limited (SNBPL)-the company that stands behind the famous brand ’24 Mantra Organic to look at up to 472.5 crushers Ruby.

Through this acquisition, ITC puts under its wing one of the most important names in India in packed organic foods, where she placed itself at the forefront of the sustainable feeding movement at home and abroad.

SNBPL offers a wide range of more than 100 organic products, from food and spices to edible oils and drinks. The brand has a strong presence at the international level, especially among the Indian diaspora, and a supply chain from the farm was built to the list on the basis of sustainability. At the heart of this network, there is a society that includes about 27,500 farms that are cultivated about 1.4 acres of organic lands approved in 10 Indian states.

This acquisition is draining into a market of 10,000 rupees, where both local opportunities and export are expanding quickly. With the government supporting the promotion of organic agriculture and the high consumer preference for natural food products that can be tracked, the sector is preparing for great growth.

Itc aims to take advantage of the SNBPL resource network and background capabilities to complete the current packed food portfolio. “We are excited to have 24 organic talismans as part of a set of healthy food products led by ITC,” said Hemant Malik, ITC LIMITED, the director of ITC Limited. “Compatibility with national priorities, we are confident that 24 memberships will enhance the presence of ITC and the market in the area of ​​high -growing organic products, in both Indian and external markets.”

This acquisition is also in line with the company’s broader “ITC” strategy, which was defended by the Chairman of the Board of Directors, Sanjev Buri, who seeks to lead to resistance to work through innovation led by the purpose and diversification of the governor.

“After 21 years of partnership with Indian farmers to create reliable organic products, we are excited because ITC will lead the next stage of growth for the health phase of the 24 -time assault.