ITC Acquires Prasuma to Elevate Position in Frozen Food Sector

ITC Ltd is set to acquire a 100% stake in Prasuma, a prominent frozen foods brand. By April 2027, ITC will invest Rs 187 crore for a 62.5% stake, with the remainder to follow by June 2028. The acquisition enhances ITC's frozen food portfolio across multiple growth channels.

ITC Ltd has announced its acquisition plans for Prasuma, a leading name in the frozen food sector, seeking to expand its market reach. The company will invest Rs 187 crore to secure a 62.5% stake by 2027, with future provisions for full control.

The strategic acquisition will unfold in phases, beginning with a 43.8% purchase of stakes in Ample Foods, Prasuma's parent company, alongside its affiliates such as Chao Chao Foods and Meat and Spice Private Limited. This initial investment is slated for completion by March 2025.

The agreement positions ITC to enhance its product offerings in the Rs 10,000 crore frozen food market, leveraging existing synergies from its 'ITC Master Chef' brand to become a major competitor in the industry.

(With inputs from agencies.)