ITC Limited Acquires Control of Sproutlife Foods Private Limited
ITC Limited announced on April 1, 2026, that it has acquired the right to nominate the majority of directors on the board of Sproutlife Foods Private Limited ('Sproutlife'). This development results in Sproutlife becoming a subsidiary of ITC Limited, effective April 1, 2026.Sproutlife, incorporated on February 13, 2015, is engaged in the manufacturing and sale of food products under the ‘Yoga Bar’ trademark. The company operates as a digital-first brand with a significant online sales presence (direct-to-consumer and e-commerce platforms), alongside a growing offline retail presence.
The acquisition aligns with ITC's strategy to expand its portfolio in the foods segment. ITC currently holds approximately 47.50% of Sproutlife’s share capital on a fully diluted basis. The Shareholders' Agreement executed on April 19, 2023, granted ITC the right to nominate the majority of directors, which took effect on April 1, 2026.
Financial Highlights of Sproutlife Foods Private Limited (in Indian Rupees)
The following table details Sproutlife’s turnover over the past three financial years:| Particulars | Disclosures | Disclosures | Disclosures |
|---|---|---|---|
| Financial Year | 2024-25 | 2023-24 | 2022-23 |
| Turnover (based on audited accounts) | 200 crores | 108 crores | 88 crores |
The acquisition does not require governmental or regulatory approvals, nor does it involve a cash consideration or share swap. ITC does not have any promoter/promoter group, and the group companies do not have any interest in Sproutlife, confirming the transaction occurred at arm's length.
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