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Multi-conglomerate ITC on Thursday said it will acquire Sresta Natural Bioproducts, engaged in the manufacturing and sale of organic packaged food products under the 24 Mantra Organic brand, for about Rs 472.50 crore. It has signed a share purchase agreement to acquire a 100 per cent stake in Sresta Natural Bioproducts Private Limited (SNBPL), ITC said in a regulatory filing. The acquisition is "in line with the strategy to augment the company's future-ready portfolio, the transaction will fortify ITC's presence and market standing in the high growth organic products segment in both Indian and overseas markets," it added. SNBPL's portfolio comprises a wide range of over 100 organic products, spanning branded grocery staples, spices and condiments, edible oils, and beverages, among others. Besides, it has a strong international presence with a deep connection with the Indian diaspora. "The share acquisition is expected to be completed in Q1 of FY 2025-26 or such later date as may be
Wipro Consumer Care on Monday announced its entry into the packaged food and spice segment by acquiring Nirapara, one of the largest-selling traditional food brands in Kerala. The deal size was not disclosed by the company. The Wipro group arm has signed a definitive agreement with Nirapara, a company statement said. With this acquisition, Wipro Consumer Care joins FMCG firms such as Dabur, Emami, Tata Consumer Products Ltd and ITC, which are already present in the spices market. Launched in 1976, Nirapara is known for its blended spices. The brand leads in producing a large variety of spice mixes, and rice powder used in making 'appam', 'idiyappam', etc. "Nirapara is our 13th acquisition and gives us a clear foothold in the spices and read-to-cook segment," Wipro Consumer Care and Lighting and Executive Director - Wipro Enterprises Vineet Agarwal said. Presently, Nirapara's 63 per cent business comes from Kerala, 8 per cent from rest of India and the remaining 29 per cent from .