News > ITC to acquire spice manufacturer Sunrise Foods

ITC to acquire spice manufacturer Sunrise Foods

Firstpost | 25/05/2020 10:11 AM | Click to read full article

"ITC Limited has entered into a Share Purchase Agreement (SPA) on 23 May, 2020 to acquire 100 percent of the equity share capital of Sunrise Foods Private Limited (SFPL), a company primarily engaged in the business of spices under the trademark 'Sunrise', subject to fulfilment of various terms and conditions as specified in the SPA," it said. The deep consumer connect and distribution strength of SFPL in the focus markets, together with synergies arising out of the sourcing and supply chain capabilities of ITC's agri business and its pan-India distribution network, will provide significant value creation opportunities for the company, it said.