Foods & Inns’ board of directors has considered in-principle acquisition of 100% Shares of Udhyaan Agroproduct and Trading from the existing shareholders of the Udhyaan Agroproduct and Trading at a value not exceeding Rs 2.70 crore. The company will have a holding of the entire 100% Equity Shares representing 100% of the issued, subscribed and paid-up share capital of the Company of the Target on the date of closing. The objective of acquisition is for business expansion. The acquisition will complete on or before September 30, 2023.
Further, the board has consented in-principle approval for acquisition of 100% Shares of Tropfruit Products. The acquisition of Tropfruit Products will complete on or before September 30, 2023.
Foods & Inns is a leading internationally reputed manufacturer and exporter of fruit pulp and concentrates in canned and aseptic packing, frozen pulp and vegetables, fruit powders etc.
