DSM Fresh Foods Completes Acquisition of Avyom Foodtech, Making It a Wholly Owned Subsidiary
DSM Fresh Foods Limited has successfully completed the acquisition of Avyom Foodtech Private Limited. Following this completion, the company now holds 100% of the paid up equity share capital of Avyom Foodtech Private Limited, establishing it as a wholly owned subsidiary.The transaction represents a strategic move for DSM Fresh Foods Limited aimed at strengthening its presence within the food processing and allied sector. The acquisition was completed through cash consideration, with the cost reported as 1 Lakh (Rupees One Lakh only). This deal results in Avyom Foodtech becoming a wholly owned entity of DSM Fresh Foods Limited.
Avyom Foodtech Private Limited, which was previously known as IEY Education Private Limited, operates in the food processing and manufacturing sector. The company specializes in the manufacture, processing, preparing, freezing, packaging, branding, marketing, distributing, importing, and exporting of a range of foods. This includes ready to eat foods, ready to cook foods, frozen foods, snacks, gravies, sauces, and other allied food preparations.
The acquisition is intended to yield operational synergies, expand the product portfolio of DSM Fresh Foods Limited, and enhance market reach. Furthermore, Avyom Foodtech plans to utilize this expanded position in a proposed acquisition of Ambrozia Frozen Foods' operational business via a slump sale.
Financial and Operational Details of Avyom Foodtech Private Limited
The following table details the profile and financials of the acquired entity:| Particulars | Detail |
|---|---|
| Target Company Name | Avyom Foodtech Private Limited (formerly IEY Education Private Limited) |
| Industry Sector | Food processing, manufacturing and allied food products sector |
| Date of Incorporation | July 22, 2022 |
| FY 2024-25 Turnover | Rs.14,90,284 |
| Financial History (Turnover) | FY 2022-23: Rs.7,17,880; FY 2023-24: Rs.19,55,955; FY 2024-25: Rs.14,90,284 |
| Nature of Acquisition | Related party transaction (Promoters and directors are common in both DSM Fresh Foods Limited and Avyom Foodtech Private Limited) |
The acquisition involved the securing of 100% equity shareholding of Avyom Foodtech Private Limited. The company acquired through this process operates in manufacturing, processing, packaging, branding, and distribution of food products, including ready to eat foods, frozen items, snacks, gravies, and sauces.
Stock Price Movement
At 12:42, DSM Fresh Foods Ltd is declining as shares trade at ₹80.50, following a one-point-eighty-three percent dip. The stock has seen intraday movement, oscillating between a low of ₹80.30 and a high of ₹82.95.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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