Liquidity Events
ITC to acquire Sresta Natural Bioproducts for Rs.472.5 Cr
ITC Ltd is acquiring Hyderabad-headquartered Sresta Natural Bioproducts , which owns the organic packaged staples brand ‘24 Mantra Organic’, for INR 472.5 crore in an all-cash deal. The company will make an upfront payment of INR 400 crore. The balance INR 72.5 crore will be paid over two years.Sresta Natural’s vertically integrated supply chain claims to have over 1.4 lakh acres of certified organic land across ten states. Sresta Natural posted sales of INR 306 crore as of 2023-24 and has a portfolio of over 100 products across staples, spices, condiments, edible oils and beverages. The USA accounts for half of its sales.
Between 2006 and 2016, Sresta had attracted about USD 25 M from Ventureast, People Capital and Bellwether.
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