ITC announces the acquisition of 24 mantra organic brand | Company Business News

ITC Ltd said on Thursday that it had signed a share agreement to acquire 100% of the share capital of SRESTA Natural Bioproducts PVT. Ltd. (SNBPL), which manufactures organic packaged food products and sells under the ’24 mantra organic ‘brand in the local and international markets. ITC paid a consideration of up to £ 472.50 on a cash -free, debt -free base, subject to usual adjustments set out in the share purchase agreements, which consisted of £ 400 crore payable in the next 24 months after the £ 72.50 closure. Raj Seelam (founder) will help with the transition and be associated with the business for two years. The transaction is expected to be completed in Q1 FY26. The portfolio of SNBPL consists of more than 100 organic products that over branded groceries, spices and spices, edible oils, drinks, etc. India is also well positioned to become a global pivot for organic acquisition, with existing strengths in areas such as rice and organic tea, ITC said on Thursday. The Indian organic market (domestic and exports) is estimated at £ 10,000 crore. Strengthening organic portfolio The acquisition reinforces the commitment of ITC to build a portfolio of future winning art that addresses the developing needs of Indian consumers, and will unlock value creation opportunities by utilizing the ITC’s institutional strengths to utilize synergies in areas such as product development and innovations, Company added. This investment ties in with the chairman of Sanjiv Puri’s ‘ITC Next’ strategy. Hemant Malik, the director of all the time, ITC, said: “We are excited to have 24 mantra organic as part of ITC’s food enterprise’s portfolio of nutritional healthy food products. Last month, the hotel-to-cigarettes conglomerate announced the acquisition of Century Pulp and Paper (CPP) of Aditya Birla Real Estate Ltd for a lump sum of £ 3,498 crore. In February, ITC announced plans to acquire the frozen food and ready-to-cook food brand Prasuma. ITC sells, among other things, kitchen crabs, snacks and personal care products. Separately, ITC also said it signed definite agreements to achieve the balance of 73.5% in Mother Sparsh Baby Care Pvt. Ltd. (‘Mother Sparsh’), a co -enterprise that works in the premium ayurvedic and natural baby space. The baby care segment in India is underpay and under -serving, which gives ITC the opportunity to set up and build a category of the future, the company said. ITC first invested in the company in 2021. First published: 17 Apr 2025, 23:32 IST