Tata Consumer Products acquires 100% of Tata SmartFoods for Rs.

Tata Consumer Products acquires 100% of Tata SmartFoods for Rs.

Tata Consumer Products (TCPL) on Friday said it has signed definitive agreements to acquire 100 per cent equity shares of Tata SmartFoods Ltd (TSFL) from Tata Industries Ltd for a cash consideration of Rs 395 crore. This move is in line with TCPL’s strategic intention to expand into value-added categories.

TSFL commenced operations in 2019 and within a short span of time has established itself as the number two player in the ready-to-eat (RTE) market in India. Under the Tata Q brand name, it offers a range of products which currently includes pasta, noodles, biryani and combo meals.

Sunil D’Souza, Managing Director and CEO, Tata Consumer Products, said, “The acquisition will give us access to a unique technology and product portfolio that syncs well with our existing distribution infrastructure in India and internationally.”

He added, “We believe Tata Consumer Products is well positioned to help unlock the market potential of this technology and to meet the growing consumer needs for nutritious, reliable and convenient food offerings through this business. can increase.”

In India, the RTE category is expected to grow at a significant pace benefiting from demographic tailwinds such as urbanisation, and nuclear households with high disposable incomes looking for convenience, nutrition and clean food on the go. This category is already large and growing strongly in the international markets in which TCPL is already operating.

Tata Consumer Products will leverage its existing domestic and international distribution and focus on operational excellence to maximize value. The technology will also enable TCPL to build a robust pipeline of value-added products in other segments of the food business.

Balark Banerjee, CEO, Tata Smartfoods said, “Being part of Tata Consumer Products will enable us to strengthen our market presence and grow our business. This will allow us to leverage Tata Consumer’s strength in modern business and e-commerce channels in India and its global presence to target key international markets for RTE exports. It will also help us grow our innovation pipeline and unlock synergies in our business. ,

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