Agro Tech Foods (ATFL) has received approval for the acquisition of 100% of the issued and outstanding equity shares of Del Monte Foods (DMFPL) from the existing shareholders of DMFPL. The consideration for the acquisition of DMFPL will be issue of equity shares of the company to the existing shareholders of DMFPL, by way of a preferential allotment. Pursuant to the completion of the proposed acquisition, DMFPL will become a wholly owned subsidiary of the company.
The acquisition is in line with the company's strategic intent of creating a diversified processed food portfolio across various categories and segments and to build a sustainable, diversified and profitable business. The Board of Directors of the company at their meeting held on November 14, 2024, has, inter alia approved the same.
Agro Tech Foods (ATFL) is a public limited company engaged in the business of marketing food and food ingredients to consumers and institutional customers.
| Company Name | CMP |
|---|---|
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| Patanjali Foods | 471.60 |
| Gokul Agro Resources | 220.75 |
| Marico | 763.00 |
| BCL Industries | 33.06 |
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