The Competition Commission of India (CCI) has approved a proposed combination involving Agro Tech Foods Limited (ATFL), Bharti Enterprises Limited (BEL), DMPL India Limited, and Del Monte Foods Private Limited (DMFPL). As part of the deal, ATFL will acquire 100% shareholding in DMFPL from its current shareholders—BEL, Bharti Units, and DMPL India—making DMFPL a wholly-owned subsidiary of ATFL.
To facilitate this acquisition, ATFL will issue equity shares to Bharti and DMPL India through preferential allotment, with Bharti receiving 20.95% and DMPL India receiving 14.39% of ATFL’s equity. The Bharti Units include Bharti (SBM) Holdings, Bharti (RBM) Holdings, Bharti (RM) Holdings, and Bharti (Satya) Trustees representing the Bharti Family Trust.
ATFL, a publicly listed company, manufactures and sells a wide range of food products and edible oils. BEL provides management consultancy services within the Bharti Group, while DMPL India is an investment holding company focused on branded food and beverage businesses. DMFPL operates in India, producing snacks, sauces, dips, edible oils, and pasta.
This acquisition strengthens ATFL’s presence in the packaged foods market, leveraging DMFPL’s established portfolio and operations in India.