From Yahoo Finance: 2025-04-22 06:11:00

Indian conglomerate ITC has acquired Sresta Natural Bioproducts, owner of 24 Mantra Organic brand, for Rs4.73bn ($55.2m). The deal is expected to be finalised in ITC’s 2025/26 financial year. ITC will pay Rs4bn upfront and up to Rs725m over two years based on performance criteria. Sresta Natural reported Rs3.06bn turnover in 2023/24, with 50% revenue from international markets, mainly the US. The company has 27,500 farmers across ten Indian states cultivating 140,000 acres of organic farmland. Rajashekar Reddy Seelam, founder of Sresta Natural, will stay for two years post-acquisition to support the transition. The Indian organic food market is estimated at Rs100bn. ITC sees organic food as a growth area due to synergies with its existing business. The deal will help ITC leverage its strengths in areas like product development and distribution.



Read more at Yahoo Finance: ITC seals deal to buy organic packaged foods brand 24 Mantra owner