M&A

M&A

LT Foods to acquire Hungarian processed foods co Global Green Europe for Euro 25-M

BSE Announcement   Economic Times  

Gurugram-based, publicly listed packaged foods and staples maker LT Foods is to acquire a 100% stake in Hungary-based processed and canned foods maker Global Green Europe Kft. for EUR 25 million via its European subsidiary LT Foods Europe Holdings Ltd.The transaction includes the acquisition of Global Green International (UK) Ltd and Greenhouse Agrar Kft., which are its support and distribution entities.The Hungarian operations of Global Green were established in 2006 following the acquisition of Intergarden N.V., with operations now in more than 30 countries across Europe. The firm makes and sells sweet corn, gherkins, silver skin onions, peas, and sour cherries in jars and cans, and has two manufacturing sites. It has an annual turnover of EUR 40 million and a workforce of over 170.Prowess Advisors, a food- and agribusiness-focused investment banker, acted as the exclusive transaction advisor for LT Foods on this deal.