LT Foods Limited, a leading Indian food company, has announced the acquisition of the remaining 17.5% stake in Nature Bio-Foods Limited from India Agri Business Fund II Limited. This strategic move will make Nature Bio-Foods a wholly-owned subsidiary of LT Foods.
The decision was approved by the Board of Directors of LT Foods in a meeting held on August 29, 2024, which lasted from 01:55 P.M. to 02:25 P.M. Nature Bio-Foods Limited is described as the organic arm of LT Foods, indicating its importance in the company’s portfolio of health-focused and organic food products.
This acquisition aligns with LT Foods’ strategy to strengthen its position in the organic food segment and consolidate its operations. By fully integrating Nature Bio-Foods, LT Foods is likely aiming to streamline its organic food production and distribution capabilities.
The company has made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The detailed disclosures related to this acquisition will be provided in an annexure, as required by SEBI regulations.
This move by LT Foods, known for brands like Daawat and Royal, reflects the growing importance of the organic food sector in India and globally. The full ownership of Nature Bio-Foods is expected to enhance LT Foods’ competitive edge in the rapidly expanding organic food market.
