ITC Ltd.

ITC has entered into a Share Purchase Agreement (SPA) to acquire 100% of the equity share capital of Sunrise Foods, an Indian company primarily engaged in the business of spices under the trademark 'Sunrise', subject to fulfilment of various terms and conditions as specified in the SPA.

The proposed acquisition is aligned with ITC's strategy to rapidly scale up its FMCG Businesses in a profitable manner, leveraging its institutional strengths viz. deep consumer insight, a deep and wide distribution network, agri-commodity sourcing expertise, cuisine knowledge, strong rural linkages and packaging know-how. The proposed acquisition will augment the company’s product portfolio and is aligned to ITC’s aspiration to significantly scale up its Spices business and expand its footprint across the country.

ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.