Agro Tech Foods Bolsters FMCG Portfolio with Del Monte Acquisition

Agro Tech Foods announced the acquisition of Del Monte Foods from Bharti Enterprises in a share-swap deal, consolidating its status in India's FMCG sector. Bharti now holds a 21% stake in ATFL, while DMPL has 14%. The combined turnover reached Rs 1,300 crore in FY24.

Agro Tech Foods, known for brands like ACT II popcorn and Sundrop, has successfully acquired Del Monte Foods from Bharti Enterprises through a share-swap agreement. Although the financial specifics of the deal weren't disclosed, the acquisition is a strategic move to bolster Agro Tech's position in India's food and FMCG sector.

The transaction also results in Bharti Enterprises and Del Monte Pacific Limited (DMPL) becoming shareholders of Agro Tech Foods Ltd (ATFL). Bharti Enterprises emerges as the second-largest shareholder with a 21% stake, while DMPL holds a 14% stake in the company.

Additionally, Harjeet Kohli from Bharti Enterprises has been appointed as a director on ATFL's board. The combined financial prowess of ATFL and DMFPL saw a turnover of Rs 1,300 crore in FY24, with Del Monte Foods Private Limited contributing 40% to this revenue.