The Allana Group, India’s largest exporter of processed food products and agro commodities, has picked up a minority stake in LT Foods, a leading consumer products company in India. The Group has picked up a 1% stake in LT Foods with an investment of Rs 20 crore. The Allana Group is headquartered in Mumbai in Western India while LT Foods was founded in Amritsar in North India. However, both groups are globally active in many respects.
Announcing the acquisition, the group said that both companies have plans to use their synergies and technology transfer to expand LT’s consumer products business to focus on value-added and impulse products.
The Allana Group distributes premium brands such as London Dairy Ice Cream, Sunny Oil, and Pristine Bakery. It is India’s largest exporter of frozen and chilled meat, processed and frozen fruit and vegetable products, coffee, spices, and cereals to over 85 countries. The group is making several strategic investments in both public and private companies they can partner with.
Speaking on the occasion Fauzan Alavi, director of Allanasons said, “Both companies have underlying strengths in distribution, production, and marketing of food products. This will give the alliance a superior edge in the market. We look forward to working with LT Foods and synergize our strengths to provide our products in the Indian market and also explore export markets together to capitalize on our strengths while maintaining the highest standards of quality in procurement, manufacturing, and distribution.”
LT Foods is a leading player in the rice market with leading brands like Daawat, Royal, and Devayya and has a network in over 65 countries.