ITC has signed a Binding Term Sheet on January 16, 2023, to acquire 100% of the share capital (on a fully diluted basis) of Sproutlife Foods, an Indian company primarily engaged in the business of manufacture and sale of food products under the trademark ‘Yoga Bar’, subject to execution of transaction documents setting out the terms and conditions on which the proposed acquisition will be consummated.
In line with the strategy to augment the Company’s future ready portfolio, the proposed acquisition will strengthen and expand its reach with innovative food products for health conscious consumers.
ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agribusiness, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.
