ITC, the Indian conglomerate, has announced that it has entered into a share purchase agreement to acquire 100% of the shares of Sresta Natural Bioproducts (SNBPL), the company behind organic food and drink brand 24 Mantra Organic, for 472.5 crore INR ($56.7 million). SNBPL offers over 200 products from staples to juices and ready-to-cook foods, ITC said in a statement, adding that the company’s vertically integrated supply chain promotes sustainable livelihoods …
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ITC, the Indian conglomerate, has announced that it has entered into an agreement to acquire Prasuma, a leading player in frozen, chilled and ready to cook foods, over a period of three years. Prasuma is described as a specialist in Oriental cuisine offering a diverse range of over 170+ products under the Prasuma, Meatigo and Momo Kitchen brands. The Prasuma brand offers frozen products such as baos, Korean fried chicken …
ITC, the Indian consumer goods giant, has announced plans to invest 1,500 crore INR ($181 million) to set up an integrated food manufacturing and logistics facility and a sustainable packaging manufacturing plant at Sehore in Madhya Pradesh. According to sources, the two projects will span an area of approximately 57 acres. Commenting on the new investment, ITC chairman Sanjiv Puri said: “In line with our commitment to contribute to the …
ITC, the leading Indian conglomerate, has announced the debut of Fruits ‘N Bits, a line of fruit beverages that are claimed to have real fruit chunks and seeds. Launched under the B Natural brand, the new line is claimed to be free from concentrates and added preservatives, and comes in the varieties Mixed Fruit, Litchi (with Apple) and Guava. Commenting on the launch, Sanjay Singal, chief operating officer – Dairy …
ITC, the leading Indian conglomerate, has announced the acquisition of Sproutlife Foods, the company behind the Yoga Bar brand of cereal and snack foods, over the next three to four years. In a press release, ITC said the deal would enable it to further diversify its portfolio and enhance its presence in the ‘good for you’ space , aligning with the company’s “ITC Next” strategy. Sproutlife Foods describes itself as …
ITC, the Indian consumer goods giant, has announced that it has inaugurated a new state-of-the-art food manufacturing and logistics facility in Kapurthala, in the state of Punjab, India. According to sources, the new plant, which is spread over 72 acres of land, will boost the Punjab’s food processing sector and help to strengthen the state’s economy. As well as generating employment, the company claimed in a statement that the facility …
ITC, the Indian consumer goods giant, is set to expand its manufacturing operations with the opening of a consumer goods facility in Odisha (Orissa), according to a report in the Economic Times. The 700,000 sq ft plant, located in the Khordha district, will produce goods under brands such as Aashirvad (spices, dried ready meals and baking aids), Bingo! (savoury snacks), Sunfeast (biscuits) and YiPPee! (noodles and pasta). The facility is part …
ITC, the leading Indian FMCG firm, has announced that it will expand its offering by launching its first dairy product – ghee – by the end of Q3 this year. The company has built a milk processing plant in Munger, in Bihar – where it has a network that covers more than 2,800 dairy farmers with an average procurement of over 10,000 litres per day – and is already investigating …
ITC Ltd has plans to invest Rs 1,000 crore ($160 million) in the dairy and juice businesses in the first quarter of 2015, according to a report in the Economic Times. The expansion will reportedly involves setting up new production facilities in Munger, Punjab,Uttar Pradesh, Maharashtra, Telangana and Andhra Pradesh. While ITC’s foray into juice began earlier in the year with the acquisition of the Be Natural brand for about …
ITC, India’s largest cigarette manufacturer, has announced that it is intending to expand its business by moving into the electronic cigarettes market, the Economic Times reports. According to company chairman YC Deveshwar, ITC is in conversations with government to develop a framework under which its range of e-cigarettes can be launched. Mr Deveshwar said that by the time it was established that e-cigarettes were less harmful than standard products, the …
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