ITC has acquired 2,62,500 equity shares of Rs 10 each of Ample Foods (AFPL) (through primary subscription and secondary purchases) for an aggregate consideration of around Rs 131 crore.
Consequent to the above, the Company’s shareholding in AFPL aggregates 43.75% of its share capital.
In line with the strategy to augment the Company’s future ready portfolio, the transaction will fortify ITC’s presence and market standing in the high growth segments of the frozen, chilled and ready to cook foods industry in India, which is currently estimated at over Rs 10,000 crore and is poised for rapid growth in the years ahead.
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.
