LT Foods has executed a Share Purchase Agreement (SPA) with Global Green International N.V. to enter into processed ambient fruits and vegetables business in consumer space. Under this agreement, the company will acquire Global Green International’s entire shareholding in Global Green Europe Kft., Greenhouse AGRAR Kft., and Global Green International (UK).
The acquisition will be undertaken either by LT Foods Europe Holdings or through any of its subsidiaries. As a result, the aforesaid entities shall become step-down wholly-owned subsidiaries of the company. The cost of the acquisition will be 6 million euro payable at the closing date and 1.8 million euro through earn-out mechanism contingent upon future earnings. The acquisition is likely to be completed in Q3 FY2025-26, subject to any extension as per the terms of SPA.
LT Foods, is a leading rice-based food Company with strong global brands of basmati and other specialty rice, organic foods and rice-based convenience products.
