Liquidity Events
ITC to acquire packaged foods brand Yogabars for over Rs.255-Cr
Publicly listed ITC is to acquire 100% of the share capital (on a fully diluted basis) of Bengaluru-based Sproutlife Foods Pvt Ltd, which makes food products under the trademark Yogabars. ITC will initially buy a 39.4% stake for INR 175 crore. A further infusion of INR 80 crore for a total 47.5% stake will be done by March 2025 and the balance stake will be acquired based on performance criteria. Yogabars currently has on-line sales (D2C, e-commerce platforms etc.) with growing presence in offline stores. The brand's FY22 turnover was INR 68 crore.
From the Venture Intelligence PE-VC Deal Database: Between May 15 and Feb 20, Yogabars had raised over USD 11 M from Fireside Ventures, Elevation Capital and others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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