Today's business news headlines - ITC Corporate deal with Sunrise Pvt Ltd. ITC Acquiring SUNRISE- ITC Limited said that the share purchase agreement has been reached in both the companies.
FMCG Sector Update, ITC Ltd, which has done a wide range of business including FMCG, has said that it will acquire 100% equity of Chaat masala company Sunrise Foods Pvt Ltd. ITC said that the proposed acquisition would increase its product portfolio and help the company expand its chat masala business.
ITC's Ashirwad brand's chaat spices are market leaders in Telangana and Andhra Pradesh. ITC can invest Rs. 1800 to 2000 crores in this deal. ITC said that this proposed acquisition will help it to grow its FMCG business rapidly.
ITC said in a statement that Sunrise Foods is the market leader of the Chaat Masala category in East India and has a 40-year market heritage of the brand.
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