M&A

M&A

Wipro Consumer, Murugappa lead race to acquire packaged foods brand Double Horse for Rs.500-Cr

Mint  

Wipro Consumer and the Murugappa Group are competing to acquire Manjilas Food Tech, the Kerala-based firm that owns the Double Horse brand. The target company has engaged EY to advise on the potential transaction, which is estimated to be valued at approximately Rs.500-Cr.Founded in 1959, Manjilas Food Tech produces a range of packaged food products, including breakfast mixes, rice powders, spices, pickles, and instant foods.Wipro Consumer has been actively expanding its food portfolio through acquisitions, including its previous purchases of the Nirapara and Brahmins brands. Meanwhile, the Murugappa Group, through its subsidiary EID Parry, continues to evaluate strategic growth opportunities within the food and agribusiness sector.