Spice Lounge signs MoU with Indian Emulsifiers for food-grade distribution in India
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Spice Lounge Food Works has signed a non-binding MoU with Indian Emulsifiers Ltd for exclusive offtake, branding and distribution in India of IEML's food-grade emulsifier range. The arrangement covers the entire monthly output of IEML's new line, about 200 MT per month, for five years from commissioning, with an option over export markets. The company estimates about 500 crore rupees in cumulative revenue potential over the first three years. The MoU is not an acquisition, merger or joint venture, and is not a related party transaction. Pricing, exact volumes and payment terms remain subject to a definitive agreement.
Non-binding MoU only; the 500 crore rupees revenue estimate is indicative and depends on the definitive agreement and actual offtake. No structural change to the company.