Consumer goods firms see value in fast-growing\, high-margin spices biz

Consumer goods firms see value in fast-growing, high-margin spices biz

Multiple parties from private equity to strategic players see value in the fast-growing, high-margin branded spices business

Topics
Spices export | Consumer goods companies | Emami

Ishita Ayan Dutt  |  Kolkata 

It is uncharacteristic of ITC — known to favour building brands from scratch — to make a big-ticket acquisition.

But last month, the diversified conglomerate sealed its biggest acquisition deal to date, paying Rs 2,150 crore for Kolkata-based Sharma family-owned, Sunrise Foods; additionally, the sellers are entitled to a contingent consideration of an amount not exceeding Rs 150 crore, payable upon Sunrise achieving mutually agreed operational and financial milestones over a period of two years. Roughly, the deal size is close to four times the turnover of Sunrise which ...
First Published: Fri, August 14 2020. 06:03 IST