In a decisive decision to strengthen its footprint in the rapidly growing biological food sector, ITC Limited has signed a share purchase agreement to acquire 100% of Srest Natural Bioproducts Private Limited (SNBPL) – The company behind the Mantra brand ₹ 24 ₹ 24 ₹ ₹ ₹ ‘Brand for taking into account up to 472.5 crosses.
With this acquisition, ITC bears under its wing one of the most recognized names in India in organic packaged foods, positioning itself at the forefront of the lasting nutritional movement in the country and abroad.
SNBPL offers a large portfolio of more than 100 organic products, staples and spices with edible oils and drinks. The brand benefits from a strong international presence, especially among the Indian diaspora, and has built a chain of supply of the farm to sustainability. At the heart of this network is a community of approximately 27,500 farmers cultivating approximately 1.4 acres of certified organic land in 10 Indian states.
This acquisition draws on a market worth 10,000 crores, where national and export opportunities develop rapidly. With the support of the government strengthening organic farming and the increase in consumer preferences for natural and traceable food products, the sector is ready for significant growth.
ITC aims to take advantage of the SNBPL supply and backend capacities to complete its existing packaged food wallet portfolio. “We are delighted to have 24 organic mantra as part of the portfolio of healthy food products led by ITC Foods business of healthy food products led by nutrition,” said Hemant Malik, director of Wholetime, ITC Limited. “Alignment with national priorities, we are convinced that 24 Mantra Organic will strengthen the ITC presence and market in the space of strong growth organic products, in Indian and abroad.”
This acquisition is also aligned with the broader “ITC NEXT” strategy of the company, defended by President Sanjiv Puri, who seeks to imply the company by the innovation and diversification of the objectives focused.
Rajashekar Reddy Seelam, founder and managing director of SNBPL, has echoed optimism: “After 21 years of partnership with Indian farmers to create trusted organic products, we are delighted that ITC leads the next growth phase for 24 Mantra Organic.
