Agro Tech Foods Completes Acquisition of Del Monte Foods India

Agro Tech Foods Limited (ATFL) has concluded its acquisition of Del Monte Foods Private Limited (DMFPL), marking a key expansion move. This positions ATFL prominently in India's FMCG market. With new stakeholders like Bharti, synergy is set to elevate product offerings and drive significant growth.

Agro Tech Foods Limited (ATFL) has successfully completed its acquisition of Del Monte Foods Private Limited (DMFPL), heralding a pivotal moment in the company's expansion strategy. This union reflects a combined turnover of Rs 1,300 crore in FY24, with DMFPL contributing 40 percent to this figure and 38 percent to the EBITDA of the combined entity.

This acquisition cements ATFL's status as a leader in India's food and FMCG sector. The completion of a preferential allotment of equity shares has made Bharti and Del Monte Pacific Limited (DMPL) shareholders in ATFL, with Bharti holding a 21 percent stake as the second-largest shareholder, while DMPL holds 14 percent. Harjeet Kohli from Bharti Enterprises has been appointed as a director on the ATFL board, indicating a strengthened governance structure.

ATFL has secured an exclusive and perpetual license for the Del Monte brand in India, offering long-term growth potential. The existing manufacturing and R&D facility in Hosur will allow ATFL to enhance product innovation and operational capabilities. The partnership promises to align with ATFL's strategy to offer diverse food solutions, enriching the market experience for Indian consumers.

(With inputs from agencies.)