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Consumer giant ITC is picking up a 43.8% stake in Ample Foods for ₹131 crore, further pushing into India’s fast-growing frozen and ready-to-eat food market.
The deets: Ample Foods owns brands like Prasuma—best known for its momos—and Meatigo, which offers premium deli meats, sauces, marinades, and frozen snacks. Products are sold online, in stores, and via their own online platforms.
Ample will continue operating independently, but with ITC’s distribution power and strategic backing in the background.
Combined, Ample Foods and its related companies clocked ₹131 crore in revenue in FY24, up from ₹111 crore in FY23 and ₹91 crore in FY22. At a roughly 2x sales multiple, the deal looks like a bargain for ITC.
Worth noting: this is ITC’s second acquisition in a week. Just days ago, it announced a ₹3,498 crore deal for Century Pulp and Paper, boosting its packaging business.
