ITC has announced that it will acquire 100% stake in Sresta Natural Bioproducts, which manufactures organic packaged food products under the ‘24 Mantra Organic’ brand, for Rs 472.50 crore.
SNBPL has more 100 organic products including grocery staples, spices and condiments, edible oils, beverages, etc. It has a strong international presence with a deep connect with the Indian diaspora.
“SNBPL’s vertically integrated supply chain promotes sustainable livelihoods for its network of approx. 27,500 farmers spread across 1.4 lakh acres of certified organic land in 10 states. The strong network of farmers and certified organic sourcing capability are key sources of competitive advantage for the company,” ITC said in a statement.
ITC says the Indian organic market (domestic and exports) is currently estimated at Rs 10,000 crore with high growth potential. The organic foods space is an area of interest for ITC given the links with the company’s branded packaged foods portfolio.
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Naresh Khanna – 10 February 2025
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