Tata Consumer Products to acquire cereal and millet-based snacks brand 'Soulfull'

For consideration of Rs 155.8 crore

Tata Consumer Products has entered into share purchase agreements (SPAs) and a share purchase and investment agreement (SPIA) with the existing promoters and shareholders of Kottaram Agro Foods (Target Company) to acquire 100% of the equity share capital of the Target Company for cash consideration of Rs 155.8 crore. In addition, the promoters are entitled to a contingent consideration, which is payable upon the business achieving certain operational and financial milestones over a period of 5 years.

The Target Company is engaged in the business of breakfast cereals and millet-based snacks under the trademark "Soulfull". The said acquisition is subject to the fulfillment of various terms and conditions as specified in the SPAs and the SPIA.

 

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