ITC enters the health-conscious food market

ITC Limited has announced that it will purchase a 100% share in M/s. Sproutlife Foods Private Limited, the company that owns the Yoga Bar brand. This company produces and sells protein and fiber-rich bars.

The deal is spread over three to four years. ITC would pay Rs. 255 crores in cash for 47.5% of the stake, with the remaining portion to be paid based on agreed valuation standards.

With this acquisition, ITC enters the about 45,000 crores health-conscious food market.