Allana Group picks up minority stake in LT Foods

Allana Group picks up minority stake in LT Foods

India-based exporter of meat, frozen fruits and vegetable products, coffee, spices and cereals, Allana Group, on Tuesday announced an investment of Rs 20 crore for a 1% stake in LT Foods that sells Daawat and Royal branded rice.
The two companies plan to work together to expand the packaged rice company’s consumer products business to focus on value-added as well as impulse food products.
Both companies have underlying strengths in distribution, production and marketing of food products. This will give the alliance a superior edge in the market.

Allana Group has a large export business that ships its products to over 85 countries. It also distributes brands such as London Dairy Ice Cream, Sunny Oil, and Pristine Bakery.
LT Foods sells its packaged rice brands such as Daawat, Heritage, Royal, across the US, India, the UK, Europe, Middle East and Far East. It also has a range of organic food products, apart from rice-based sauces and snacks. For FY20, it reported revenue of Rs 2,350.07 crore.
In January, LT Foods had announced the acquisition of a 30% stake in Leev.nu, a Netherlands-based packaged foods company through its subsidiary Nature Bio Foods BV.

Disclaimer –
This document is meant for the recipient only for use as intended and not for circulation. This document should not be reproduced or copied or made available to others. The information contained herein is from the public domain or sources believed to be reliable. While reasonable care has been taken to ensure that information given is at the time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of research it cannot be warranted or represented that it is accurate or complete and it should not be relied upon as such. Also above note is not a recommendation to Buy or SELL and is only a view based on facts and figures and we will be in no way responsible for any losses incurred by anyone who uses this information to either trade or invests securities mentioned herein.