Sundrop Brands Limited — JV/Acquisition, 14-11-2024: Acquisition

Agro Tech Foods Limited has completed the acquisition of 100% equity shares of Del Monte Foods Private Limited (DMFPL) for Rs. 1,300.11 crores, which will be settled through the issuance of 1,33,27,589 equity shares at a price of Rs. 975.5 each to DMFPL's existing shareholders. This strategic move aims to diversify Agro Tech's processed food portfolio and enhance its market presence across various categories. Following the acquisition, DMFPL will become a wholly-owned subsidiary, potentially increasing operational efficiencies and shareholder value.