ITC Expands Horizons with Prasuma and Meatigo Acquisition

ITC announced the acquisition of Prasuma and Meatigo brands, enhancing its presence in frozen, chilled, and ready-to-cook food sectors. The acquisition involves a full stake in Prasuma over three years, positioning ITC as a major player in the fast-growing market of future-facing food categories.

On Thursday, conglomerate ITC announced a strategic acquisition of the 'Prasuma' and 'Meatigo' brands, marking its expansion into frozen, chilled, and ready-to-cook food segments.

The company plans to secure a 100% stake in Prasuma within three years, as stated in a joint announcement. This move positions ITC as a key player in the future-facing food category market, forecasted to grow substantially beyond its current Rs 10,000 crore value.

With this acquisition, ITC aims to become a full-stack player in the market, integrating meals and snacks for varied occasions throughout the day to meet the demands of discerning consumers.

(With inputs from agencies.)