March 25, 2021
The Allana Group has acquired up to one percent minority stake in packaged consumer Products Company
LT Foods on an investment of Rs. 20 crore. Allana Group exports processed food products and agro commodities and distribute London Dairy ice-cream and Pristine Bakery.The Allana Group is India’s largest exporter of frozen and chilled meat, processed and frozen fruit and vegetable products, coffee, spices, and cereals to over 85 countries. The group is making several strategic investments in both public and private companies they can partner with.
“Both companies have underlying strengths in distribution, production, and marketing of food products. This will give the alliance an edge,” said Allana Group director Fauzan Alavi.
Announcing the acquisition, the group said that both companies have plans to use their synergies and technology transfer to expand LT’s consumer products business focuses on value-added and impulse products.
LT Foods, which sells rice brands Daawat, Royal, and Devayya, had acquired 30% stake in Leev.nu of the Netherlands through its subsidiary Nature Bio Foods BV last year, with an option to acquire a further 21% at the end of five years.