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ITC set to acquire Sunrise Foods, looks to expand spice business

By Retail4Growth Team | May 25, 2020

The consumer goods giant aims to augment its product portfolio and significantly scale up its spices business through the proposed acquisition

ITC Limited, the consumer goods giant, is set to acquire Kolkata-based packaged spice firm Sunrise Foods.

According to the company the proposed acquisition will augment its product portfolio and is aligned to the company's aspiration to significantly scale up its spices business and expand its footprint across the country.

ITC’s Aashirvaad range of spices is already a market leader in Telangana and Andhra Pradesh.

ITC said the share purchase agreement was finalized and all related processes were completed during lockdown which reflects the company’s agility and resilience in dealing with the new normal.

Sunrise is over 70 years brand with a range tailored to regional tastes and preferences, both in the basic and blended spice segments. It has plants in Kolkata, Agra, Jaipur and Bikaner.

 

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