ITC Limited — Board Meeting, 06-02-2025: Outcome of Board Meeting

The company has executed definitive agreements to acquire 100% of the share capital of Ample Foods Private Limited and Meat and Spice Private Limited. This strategic acquisition aligns with ITC’s goal of enhancing its presence in the rapidly growing frozen, chilled, and ready-to-cook foods market, estimated to exceed ₹10,000 crore. The initial investment of approximately ₹131 crore covers an upfront acquisition of 43.8% equity in Ample Foods, with further stake purchases planned to reach full ownership over three years. This move leverages ITC’s expertise in distribution and innovation to further consolidate its market position.