Cyril Amarchand Mangaldas advised ITC Limited on the acquisition of 100% stake in Meat & Spice Pvt. Ltd. (“MSPL”) and Ample Food Private Limited (“AFPL”) (and its wholly owned subsidiary, Chao Chao Foods Private Limited). The acquisition is proposed to be completed over a period of 3 years, by way of primary and secondary means. The first tranche of 43.8% stake shall be acquired upfront and balance stake will be acquired, in tranches, by June, 2028 subject to conditions as stated in the definitive agreements.

The companies are engaged in the business of manufacturing and selling ready to cook snacks & meals, sauces & condiments, raw & deli meat, local & international marinades, momos, cheese and frozen foods & snacks under the brand names ‘Prasuma’ and ‘Meatigo’.

The Transaction Team comprised of Harish Sekar, Megha Krishnamurthi, Nikita Singhi, and Varnika Pasricha. The Due diligence team included Harish Sekar, Megha Krishnamurthi, Nikita Singhi, Achyutha G M, Varnika Pasricha and Rahi Dhuvad. The Employment due diligence comprised of Bishen Jeswant, Krithika Radhakrishnan, Rachita Shah, Shivika Gupta and Keshab Roy Choudhury. Ramgovind Kuruppath provided strategic inputs from time to time.

Source: Cyril Amarchand Managaldas’ LinkedIn Page