M&A

M&A

NHC Foods to acquire majority stakes in Lotmor Brands, Walya’s Beverages

Business Line  

Mumbai-based NHC Foods is to acquire an 88% stake in Mumbai-based Lotmor Brands and an 80% stake in Walya’s Beverages. The consideration for the acquisitions may be settled in cash or through the issuance of NHC Foods equity shares at INR 6.50 per share, with the final pricing potentially determined after six months.Lotmor Brands operates in the food and beverage sector with established capabilities in trading and manufacturing, maintaining a retail footprint across 20 states and 22,000 outlets. Walya’s Beverages is involved in the manufacturing, trading, wholesale, import, and export of food and beverage products. The combined entity aims to leverage these acquisitions to expand its reach to over 700 modern trade stores and grow its distributor network to more than 400 partners.NHC Foods processes, trades, and exports agricultural commodities, spices, and packaged food products worldwide. It intends to integrate the businesses of the target firms to strengthen its ecosystem by establishing linkages between sourcing, processing, distribution, and end markets.