Crime Today News
Hemant Malik, Executive Director, ITC Ltd
Diversified conglomerate ITC on Thursday announced that it will acquire 100 per cent share capital of Sresta Natural Bioproducts, an Indian company primarily engaged in the business of manufacture and sale of organic packaged food products, for a cash consideration of up to ₹472.50 crore.
The Kolkata-headquartered conglomerate also signed definitive agreements to acquire a 73.5 per cent stake in Mother Sparsh Baby Care, an associate company operating in the premium ayurvedic and natural baby care space.
In a stock exchange filing, ITC said it had signed a Share Purchase Agreement today to acquire 100 per cent of the share capital of Sresta Natural Bioproducts (SNBPL), which manufactures products under the ‘24 Mantra Organic brand in the domestic as well as internationally markets. SNBPL is a pioneer in the domestic organic foods space, providing fully integrated ‘Farm to Fork’ traceability, and is a leading player in the organic packaged staples category in India.
The cash consideration of this acquisition would be up to ₹472.50 crore on a cash-free debt-free basis, subject to customary adjustments as set out in the Share Purchase Agreements, comprising Rs 400 crore payable upfront at closing and up to ₹72.50 crore payable in the next 24 months post-closing.
SNBPL’s portfolio comprises a wide range of over 100 organic products spanning branded grocery staples, spices and condiments, edible oils, beverages, etc. SNBPL has a strong international presence and a deep connection with the Indian diaspora.
This investment is in line with the ‘ITC Next’ strategy articulated by Chairman Sanjiv Puri, which also focuses on building a future-ready portfolio of products that serve evolving consumer needs, it said in a statement.
Commenting on this acquisition, Hemant Malik, Wholetime Director, ITC Limited, said, “We are excited to have 24 Mantra Organic as part of ITC’s Foods Business’s portfolio of nutrition-led healthy foods products. 24 Mantra Organic has built a robust backend and sourcing network which is core to its trusted organic products portfolio. Aligning with national priorities, we are confident that 24 Mantra Organic will fortify ITC’s presence and market standing in the high growth organic products space, in both Indian and overseas markets”.
ITC currently holds a 26.5 per cent stake in Mother Sparsh. On Thursday, the conglomerate said that a balance 73.5 per cent stake in Mother Sparsh will be acquired by it over two to three years.
“Total investment of approximately ₹81 crore, in two tranches, to be made through a combination of primary subscription and secondary share purchase by Q1 of FY 2026-27 or such later date as may be mutually agreed upon by the parties,” it said in the stock exchange filing.
Mother Sparsh has a bouquet of premium natural and ayurvedic products that are winning the trust of Indian mothers seeking safe and high-quality baby care anchored on traditional Indian knowledge. The range of offerings straddles baby personal care, baby health and hygiene and baby expert products. The company has adopted a digital-first strategy with a robust presence across online channels.
Published on April 17, 2025
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