Chennai, November 12th : , Tata Consumer Products Ltd continues to expand into value-added food products and has reached a deal with Tata SmartFoodz Limited to acquire the group company Tata SmartFoodz Limited.The transaction is worth Rs 395 crore.
Chennai, Nov 12, : Tata Consumer Products Ltd is continuing its expansion into value added foods products by acquiring Tata SmartFoodz Limited, a group company.It will cost Rs 395 Crore cash. Tata Consumer Products has entered into a share purchase agreement with Tata Industries Ltd to acquire its entire holdings in Tata SmartFoodz for Rs 395 crore.Tata Consumer Products and Tata Industries Ltd have entered into an agreement to share their entire Tata SmartFoodz holdings for Rs 395 crore.
Tata Consumer Products entered into a Share Purchase Agreement with Tata Industries Ltd in order to purchase its entire TataSmartFoodz holdings at Rs 395 Crore.
With this buy, Tata Consumer Products will add to its portfolio ‘Tata Q’ brand of ready-to-eat packaged food products, the former said.
Tata Consumer Products has purchased Tata Q, a brand of packaged ready-to-eat food products.Tata Consumer Products is adding to their portfolio the Tata Q brand of ready-to eat packaged foods products with this purchase, as stated by the former.
Last fiscal Tata SmartFoodz had posted a turnover of Rs 14.66 crore and has total assets of Rs 312.76 crore and a networth of Rs 243.75 crore.The Tata SmartFoodz posted a turnover last fiscal of Rs 14.66 cr and had total assets Rs 3112.76 crore with a net worth of Rs 243.55 crore.Tata SmartFoodz reported a turnover in the last fiscal year of Rs 14.66 crore, has assets totaling Rs 312.76 cr and net worth Rs 243.75 cr.
Tata SmartFoodz’s plant is located in Sri City in Andhra Pradesh making noodles, biryani, pasta and others.Tata SmartFoodz has a plant in Sri City, Andhra Pradesh that makes noodles, biryani and pasta, among other things.
Tata SmartFoodz is a company that produces noodles, biryani, and other products at its plant in Sri City.
According to Tata Consumer Products, the acquisition is expected to be completed in seven days.
Tata Consumer Products claims that the acquisition will be complete in 7 days.Tata Consumer Product claims the acquisition should be done in seven working days.
“Tata SmartFoodz is a good strategic fit for us given the nature of its business and it will also allow us to expand our portfolio into the Ready to Eat (RTE) segment.We believe that Tata SmartFoodz will be a strategic partner due to its nature and allow us to grow our product portfolio in the Ready to Eat segment.
Tata SmartFoodz makes a great strategic match for us, given its business model.It will allow us to increase our portfolio to the Ready to Eat (RTE), segment.
RTE is a fast-growing segment in India and a sizeable opportunity in the International markets,” Sunil D’Souza, Managing Director & CEO, Tata Consumer Products said.RTE is an important segment that is growing rapidly in India, and offers a significant opportunity for growth in international markets,” Sunil D’Souza (Managing Director & Chief Executive Officer, Tata Consumer Products) said.
RTE, which is rapidly growing in India, offers significant opportunities in International markets,” Sunil D’Souza Managing Director and CEO of Tata Consumer Products.
Tata Consumer Products has under its umbrella the principal food and beverage interests of the Tata group.
Tata Consumer Products manages the Tata Group’s principal food- and beverage interests.Tata Consumer Products is the Tata’s main food and drink division.
The Company’s portfolio of products includes tea, coffee, water, salt, pulses, spices, ready-to-cook offerings, breakfast cereals, snacks, and mini meals.Products include tea, coffee and water as well as salt, pulses and spices.
Its products include coffee, tea, water, salt and pulses as well as spices, ready to cook offerings, breakfast cereals, snack foods, and mini meals #Tata #Products #purchases #SmartFoodz #exchange #cash #AndhraPradesh #Chennai #Tamil #Kollywood
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