ITC Limited — JV/Acquisition, 06-02-2025: Acquisition

ITC is set to acquire a 100% stake in Ample Foods Private Limited (AFPL) and Meat and Spice Private Limited (MSPL), engaging in the fast-growing frozen, chilled, and ready-to-cook foods sector. The initial investment for a 43.8% stake is approximately Rs. 131 crores, expected to be completed by March 2025, with the overall acquisition structured to occur over three years. This strategic move enhances ITC's market positioning in a segment valued at over Rs. 10,000 crores, expected to expand rapidly, while also benefiting from synergies within ITC’s existing frozen foods portfolio.