Annapurna Swadisht Ltd News

Annapurna Swadisht to buy 75% stake in Andri Agro Foods for ₹150 million

Packaged food manufacturer Annapurna Swadisht Ltd on Tuesday announced that it would acquire a majority stake in West Bengal-based Andri Agro Foods Pvt Ltd for a total enterprise value of Rs 15 crore. The company has entered into an agreement to acquire 75 per cent of the equity share capital in AAFPL. Post-acquisition, Andri Agro Foods will become a subsidiary of ASL, a company statement said. The move is aimed at strengthening ASL's product portfolio and enabling its entry into the soya-based food products market both in India and overseas. AAFPL manufactures a range of products, including soya chunks and textured vegetable protein (TVP). "The acquisition of AAFPL will enable us to establish our presence in the soya-based product markets both in India and overseas. Besides, it will enable us to enter the groceries segment through bulk and premium namkeen products," Annapurna Swadisht CMD Shreeram Bagla said. The deal would also open export opportunities for the company's existi