IFB Agro Industries’ board has approved the execution of a Business Transfer Agreement (BTA) with Cargill India (Cargill) to acquire Cargill’s entire commercial compound shrimp feed and freshwater fish feed business undertaking in India as a going concern on a slump sale basis in accordance with the terms and for a consideration to be set out in the BTA along with respective feed formulation, assets, contracts, business undertaking liabilities, licenses and permissions, data & records, employees and its manufacturing facilities located at Vijayawada and Rajahmundry in the state of Andhra Pradesh.
This acquisition is in same field of business of the company and will help in consolidation and growth of fish feed and shrimp feed business. The transaction is likely to be completed by July 31, 2025.
IFB Agro Industries is primarily engaged in the business of manufacturing alcohol, bottling of branded alcoholic beverages as well as processed marine foods both for domestic and export markets.
