DSM Fresh Foods has completed the acquisition of 100% equity share capital in Avyom Foodtech. The company has acquired the stake for a consideration of Rs 1 lakh. Consequently, the Avyom Foodtech has become a wholly owned subsidiary of the company. Avyom Foodtech is engaged in the business of manufacturing, processing, preparing, freezing, packaging, branding, marketing, distributing, importing and exporting of food products, including ready-to-eat foods, ready-to-cook foods, frozen foods, snacks, gravies, sauces and other allied food preparations.
The investment is aimed at strengthening the company’s presence in the food processing and allied sector. The acquisition will help Avyom Foodtech in proposed acquisition of Ambrozia Frozen Foods operational food processing business on a going concern basis through a slump sale, subject to customary conditions precedent, definitive agreements, and applicable approvals. This move is expected to result in operational synergies, expansion of the product portfolio, and enhancement of market reach.
DSM Fresh Foods is an online brand focusing on fresh meat and ready-to-cook/eat products. It is an online meat delivery company committed to revolutionizing the way customers experience and enjoy high-quality meats.
