India's Tata Consumer Products to buy Capital Foods for $616 mln

Reuters Images

The company will initially buy a 75% stake in Capital Foods, which manufactures packaged food and condiments such as chutney, sauces and noodles under their "Ching's Secret" and "Smith & Jones" brands

Ashna Teresa Britto and Devika Nair, Reuters News

January 13, 2024

PHOTO

BENGALURU - India's Tata Consumer Products will buy Capital Foods for an enterprise value of 51 billion rupees ($615.95 million), it said in an exchange filing on Friday.

It will buy the remaining 25% stake in the Mumbai-based firm within three years as Tata Consumer seeks to enter new high-growth categories in the food and beverage space.

($1 = 82.7996 Indian rupees)

(Reporting by Ashna Teresa Britto and Devika Nair; Editing by Devika Syamnath)

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.