Home-grown FMCG firm LT Foods on Tuesday said it has agreed to acquire a 100 per cent stake in Hungary-based Global Green Europe Kft for approximately 25 million euros (about Rs 256 crore) to expand its presence in the European packaged food market.
LT Foods owns basmati rice brands — Daawat and Royal.
It will pay 6 million euros upfront for the equity stake, with 1.8 million euros payable over two years through an earn-out mechanism, the company said in a regulatory filing. It will also assume the target’s debt.
The transaction includes the acquisition of Global Green International (UK) Limited and Greenhouse Agrar Kft, which serve as support and distribution entities.
The deal, subject to foreign direct investment approval in Hungary, will be executed through LT Foods Europe Holdings Ltd, a wholly-owned subsidiary.
The transaction, which will be executed through LT Foods Europe Holdings, a wholly-owned step-down subsidiary of Delhi-based firm, is in line with the long-term straHome-grown FMCG firm LT Foods on Tuesday said it has agreed to acquire a 100 per cent stake in Hungary-based Global Green Europe Kft for approximately 25 million euros (about Rs 256 crore) to expand its presence in the European packaged food market.
LT Foods owns basmati rice brands — Daawat and Royal.
It will pay 6 million euros upfront for the equity stake, with 1.8 million euros payable over two years through an earn-out mechanism, the company said in a regulatory filing. It will also assume the target’s debt.
The transaction includes the acquisition of Global Green International (UK) Limited and Greenhouse Agrar Kft, which serve as support and distribution entities.
The deal, subject to foreign direct investment approval in Hungary, will be executed through LT Foods Europe Holdings Ltd, a wholly-owned subsidiary.
The transaction, which will be executed through LT Foods Europe Holdings, a wholly-owned step-down subsidiary of Delhi-based firm, is in line with the long-term stra Latest News [ SOBAN NEWS: International and National ]
