M&A

M&A

Annapurna Swadisht acquires 75% stake in Andri Agro for Rs.15-Cr

Economic Times  

Packaged food manufacturer Annapurna Swadisht has acquired a 75% equity stake in West Bengal-based Andri Agro Foods at an enterprise value of INR 15 crore.Andri Agro Foods manufactures soya chunks and textured vegetable protein (TVP) under its 'So Best' brand and performs job-work for other brands, including Haldiram. The company operates a manufacturing unit in Raniganj, West Bengal, with an annual capacity of 4,20,000 tonnes. This acquisition aims to strengthen Annapurna Swadisht's product portfolio, facilitate its entry into the soya-based food products market in India and overseas, and enable expansion into the groceries segment with bulk and premium namkeen products, thereby creating new export opportunities for Annapurna Swadisht's existing product lines.The combined entity projects a turnover of INR 50-60 crore, based on approximately 60% capacity utilization of the acquired unit. This represents Annapurna Swadisht's second major inorganic growth initiative, following its acquisition of Madhur Confectioners in fiscal year 2025, which supported its expansion into international markets, including the UAE, Europe, and Africa. Annapurna Swadisht reported consolidated revenues of INR 249.90 crore in the first half of fiscal year 2026.