India: Sumuka Agro to merge with Gujjubhai Foods

Sumuka Agro, an Indian consumer food brand, has announced that it has received approval from the Bombay Stock Exchange for its merger with Gujjubhai Foods, a manufacturer of packaged snack food items founded in 1974.

In a statement, Sumuka Agro said the merger would consolidate business and assets and streamline the operations and networks of both companies, aiming for more efficient resource use.

Both Sumuka Agro and Gujjubhai Foods specialise in namkeen snack mixes, with Gujjubhai Foods also in categories such as sweets and frozen food, and Sumuka Agro’s portfolio also including products such as biscuits and nut snacks.

Commenting on the acquisition, Sumuka Agro Industries director and CFO Shaili Patel Bhatt said: “We are delighted to receive the stock exchanges’ approval for our merger with Gujjubhai Foods. This decision highlights the robust rationale behind our strategic alignment and the anticipated value creation for all stakeholders”.

The merger is expected to be completed by October, subject to regulatory approvals.

Source: Indian Retailer / Sumuka Agro / Gujjubhai Foods