Samara Capital and Convergent Finance-backed Agro Tech Foods Limited (ATFL) announced the complete acquisition of Del Monte Foods Private Limited (DMFPL), a joint venture of Bharti Group and Del Monte Pacific Limited, in a deal estimated at over Rs. 1,300 crore. With this acquisition, Bharti and DMPL will receive shares in ATFL, making them public shareholders of the company.
The acquisition grants ATFL an exclusive, perpetual license for the Del Monte brand in India, as well as access to Del Monte’s manufacturing and R&D facilities in Hosur, Tamil Nadu, and Ludhiana, Punjab. As part of its expansion, ATFL, known for brands like ACT II popcorn and Sundrop edible oil, plans to rebrand itself as Sundrop Brands.
Nitish Bajaj has been appointed as Group Managing Director to lead this platform. Commenting on the acquisition, ATFL CEO Asheesh Kumar Sharma emphasized the company’s mission to deliver innovative and convenient food solutions for modern consumers. Bharti’s Joint Managing Director, Harjeet Kohli, noted the deal’s potential to enhance ATFL’s growth, scale, and shareholder value through a broader product portfolio.