Annapurna Swadisht Expands with Key Acquisition in Soya-based Market

Annapurna Swadisht Ltd is set to acquire a majority stake in Andri Agro Foods Pvt Ltd, a move aimed at expanding into the soya-based food market and enhancing its product portfolio. This acquisition is expected to boost both domestic and international market presence while improving revenue metrics.

Annapurna Swadisht Ltd (ASL) is making strategic strides in the packaged food industry by acquiring a significant stake in Andri Agro Foods Pvt Ltd (AAFPL) for Rs 15 crore. This acquisition covers 75% of AAFPL's equity, positioning ASL to penetrate the soya-based food market.

The company's CMD, Shreeram Bagla, remarked on how this move will enhance footprint in Indian and overseas markets, particularly in bulk and premium groceries. AAFPL's operations in West Bengal produce soya chunks and TVP, with Bagla emphasizing the deal's export potential for existing and new product lines.

ASL projects a combined turnover increase to Rs 50-60 crore, with capacity utilization at 60%. This acquisition follows ASL's earlier purchase of Madhur Confectioners Pvt Ltd, expanding its market reach to the UAE, Europe, and Africa.

(With inputs from agencies.)