Le Lavoir Limited Acquires Majority Stake in Ghantiram Foods Private Limited
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Le Lavoir Ltd, a BSE-listed laundry services provider for the hospitality sector, is acquiring a 64.5% stake in Rajkot-based Ghantiram Foods Private Limited, a packaged food manufacturer and trader. The deal is entirely equity-based with no cash outflow — Ghantiram's promoters will receive Le Lavoir shares in return. Le Lavoir plans to invest ₹10 crore over the next two years into Ghantiram for capex and working capital, with funds being raised through a preferential allotment of warrants. The acquisition adds a new food business vertical to Le Lavoir's existing hotel laundry services, aligning with its hospitality-focused strategy. The company also plans to expand geographically to 10 additional Indian cities over the next two years.
This is a strategic diversification move for Le Lavoir, adding a new revenue stream in packaged foods beyond its core laundry business. Shareholders should note potential dilution from the equity-based deal and the planned warrant issuance, though no immediate cash burden is placed on the company. The move could positively affect long-term valuation if the food vertical scales up, but execution risk remains for a first-time move into a new industry.