ITC Limited has acquired the right to nominate the majority of directors on the board of Sproutlife Foods Private Limited, making Sproutlife a subsidiary of ITC effective 1st April 2026. This strategic move aligns with ITC’s goal to enhance its portfolio in the food segment.
Sproutlife Foods, known for its ‘Yoga Bar’ brand, is a digital-first company with a strong online presence through direct-to-consumer and e-commerce platforms. The company has been expanding its offline store presence as well. Sproutlife was incorporated on 13th February 2015 and has shown significant financial growth over the past three years. The company’s turnover was ₹200 crores for the financial year 2024-25, ₹108 crores for 2023-24, and ₹88 crores for 2022-23.
ITC’s acquisition of Sproutlife does not involve any related party transactions, and no governmental or regulatory approvals were required for this acquisition. The company holds approximately 47.50% of Sproutlife’s share capital on a fully diluted basis, as per the Shareholders’ Agreement executed on 19th April 2023.
Sproutlife operates exclusively in India, focusing on manufacturing and selling innovative food products. The acquisition is part of ITC’s broader strategy to bolster its future-ready portfolio in the foods segment.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).