ITC Limited has informed the Exchange about Acquisition of Sproutlife Foods Private Limited
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ITC Limited has acquired the right to nominate majority Directors on the Board of Sproutlife Foods Private Limited, making it a subsidiary effective 1st April 2026 under Section 2(87)(i) of the Companies Act, 2013. Sproutlife is engaged in manufacturing and selling food products under the 'Yoga Bar' brand, positioned as a digital-first health foods company with growing D2C and e-commerce presence. The company's turnover grew from ₹88 crores in 2022-23 to ₹200 crores in 2024-25. ITC already held approximately 47.50% shareholding (fully diluted basis) in Sproutlife prior to this acquisition. The deal aligns with ITC's strategy to augment its future-ready portfolio in the foods segment, with no regulatory approvals required for the acquisition.
ITC strengthens its presence in the health foods and snacks category through this acquisition, gaining control of a fast-growing digital-first brand. This consolidation of a subsidiary could provide earnings accretion and expand ITC's product portfolio in the growing wellness foods space.