ITC enters into agreement to acquire 100% stake in Sunrise Foods

26 May 2020 Evaluate

ITC has entered into a Share Purchase Agreement (SPA) to acquire 100% of the equity share capital of Sunrise Foods, an Indian company primarily engaged in the business of spices under the trademark 'Sunrise', subject to fulfilment of various terms and conditions as specified in the SPA.

The proposed acquisition is aligned with ITC's strategy to rapidly scale up its FMCG Businesses in a profitable manner, leveraging its institutional strengths viz. deep consumer insight, a deep and wide distribution network, agri-commodity sourcing expertise, cuisine knowledge, strong rural linkages and packaging know-how. The proposed acquisition will augment the company’s product portfolio and is aligned to ITC’s aspiration to significantly scale up its Spices business and expand its footprint across the country.

ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.

ITC Share Price

428.55 0.55 (0.13%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
ITC 428.55
Godfrey Phillips 3090.50
VST Industries 3565.00
The Indian Wood Pro. 28.15
Golden Tobacco 37.95
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt.Ltd.