ITC doubles on frozen foods; Plan to acquire Prasuma for 300 rupees

The varied ITC bloc increases its bet on the growing frozen food market quickly. The entity -based entity has taken its headquarters, which was in the ready -made book sector (RTC) since 2019, the inorganic way to expand the scope of business as it is preparing to gain the famous frozen food maker with a Rasoma for about 300 rupees.

The deal, which has been completed over a period of three years, will witness that ITC will act with a 43.8 % stake by March 2025 in the company in the first tranche.

ITC plans to raise its share in Prasuma to 62.5 % by April 2027 and the rest of the class will be acquitted by the group by June 2028 based on pre -defined evaluation criteria and subject to other conditions as shown in the final agreements.

The company did not reveal the total cost of acquisition, but according to estimates, ITC may have to spend approximately 300 rupees to expand its presence in the frozen food market that is increasingly gaining traction among urban consumers.

According to the ITC administration, the company will initially get a 62.5 % stake in Prasuma compared to 187 rupees and the deal will help the ITC build a frozen, refrigerated and RTC portfolio in a market of 10,000 rupees with high growth.

This step is in line with the following ITC strategy, which was formulated by its president, Sanjev Buri. The strategy focuses mainly on building a set of ready -made products in the future that serves the needs of the advanced consumer.

A source familiar with the developments said: “The ITC’s evaluation of Prasuma is close to 300 rupees, and it is expected that the deal will be closed by 2028 for the amount.”

According to Hemant Malik, WHOLETIME, ITC, adding Prasuma to the ITC wallet will help it build a full range of frozen and prepared food portfolio. “Through good products for the market, through food, we believe that the common wallet will make our distinguished consumers happy. This investment reaffirms our commitment to building a better future, in its class,”.

The enthusiasm of Malik is not without logical basis. ITC already has a wide range of Frozen Foods Portfolio under the ITC Master Chef brand, which includes more than 50 elements of RTC elements, frozen snacks and Indian bread with more than 200 cities.

While both the two -sectors brands such as Carnivor or Seatzza and traditional fast -moving consumer commodities such as Godrej, outside to attract urban consumers, ITC may be it is very important in its presence in the market.

“With the presence of the industry at a reflection point, this will help the acquisition to enhance and expand the presence of ITC in the categories mentioned above by entering the high growth sectors, meaning Asian foods, delicious meat, etc.. With the proposed acquisition, ITC will be the first full player in this The sector with an unparalleled wallet, as it offers snacks throughout the day throughout the day to the distinguished consumer.