{"id":84119,"date":"2023-01-18T10:30:00","date_gmt":"2023-01-18T05:00:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=84119"},"modified":"2023-01-18T10:23:58","modified_gmt":"2023-01-18T04:53:58","slug":"biz-itc-yoga-bar","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-itc-yoga-bar\/","title":{"rendered":"ITC to acquire Yoga Bar; to strengthen presence in healthy foods space"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1355976357\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Diversified conglomerate ITC on Tuesday announced the acquisition of Sproutlife Foods Pvt Ltd (SFPL), which owns Direct-to-Consumer (D2C) brand Yoga Bar.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1319075481\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>ITC has signed a binding term sheet to acquire 100 per cent shares of SFPL over a period of three to four years, said a statement.<\/p><p>It will initially acquire a 47.5 per cent stake in SFPL in tranches, by March 31, 2025 and the balance stake will be acquired, basis pre-defined valuation criteria, subject to other conditions agreed to in the binding documents, it added.<\/p><p>An &#8220;initial investment of Rs 175 crore will be made through primary subscription and secondary purchases for the acquisition of 39.4 per cent of the paid-up share capital\u2026, which is expected to be completed by February 15 2023,&#8221; said ITC in a regulatory filing.<\/p><div class=\"trade-content_5\" id=\"trade-1633162674\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Further, a cash infusion of Rs 80 crore will be made through primary subscription, in one or more tranches, by March 31, 2025, it added.<\/p><p>The purchase of the balance 52.5 per cent shares taking the shareholding to 100 per cent would be determined based on pre-agreed valuation criteria and subject to fulfilment of various terms and conditions, it added.<\/p><p>According to ITC, it is &#8220;fortifying its presence in the Rs 45,000-crore, fast-growing, nutrition-led healthy foods space&#8221; with the proposed strategic investment in SFPL.<\/p><p>In FY22 SFPL, the startup engaged in manufacturing and sale of products catering to health-conscious consumers under the new-age digital-first brand Yoga Bar, had a turnover of Rs 68 crore.<\/p><p>According to ITC, this acquisition is &#8220;in line with the strategy to augment the company&#8217;s future-ready portfolio, the proposed acquisition will strengthen and expand its reach with innovative food products for health-conscious consumers.&#8221; The acquisition will enable ITC to augment its future-ready portfolio and enhance market presence in the &#8216;good for you&#8217; space which currently includes Aashirvaad Multi-Grain Atta, Aashirvaad Nature&#8217;s Super Foods, Farmlite range of biscuits, Sunfeast Protein Shake, B Natural Nutrilite ABC Beverage, among others.<\/p><p>&#8220;Yoga Bar is expected to be rapidly scaled up, leveraging ITC&#8217;s enterprise strengths in areas such as sales &amp; distribution, sourcing, product development, and digital,&#8221; it added.<\/p><div class=\"trade-content-10\" id=\"trade-4119452942\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>ITC divisional chief executive, Foods Division, Hemant Malik said: &#8220;We look forward to scaling the Yoga Bar brand offering superior and healthy consumer choices. Within a short span of time, Yoga Bar has established itself as a leading brand in the healthy foods space, driven by impactful market positioning and a range of innovative products.&#8221; Suhasini Sampath Kumar and Anindita Sampath Kumar, co-founders, said: &#8220;We are confident that this partnership will add to Yoga Bar&#8217;s competitive advantage and take it to the next level from the current annualised run rate of over Rs 100 crore.&#8221; The health and wellbeing segment is a fast-evolving category in India and several FMCG (Fast Moving Consumer Goods) companies are entering the space.<\/p><p>Last week, FMCG major Hindustan Unilever Ltd announced the completion of the acquisition of a 51 per cent stake in Zywie Ventures, a wellness company which owns OZiva brand, for a consideration of Rs 264.28 crore.<\/p><p>Besides, HUL has also announced the acquisition of a 19.8 per cent stake in Nutritionalab Pvt Ltd (Wellbeing Nutrition) for a cash consideration of Rs 70 crore. PTI KRH HVA<\/p><div class=\"trade-after-content\" id=\"trade-771635879\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Diversified conglomerate ITC on Tuesday announced the acquisition of Sproutlife Foods Pvt Ltd (SFPL), which owns Direct-to-Consumer (D2C) brand Yoga Bar. ITC has signed a binding term sheet to acquire 100 per cent shares of SFPL over a period of three to four years, said a statement. It will initially acquire a 47.5 per cent [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":21080,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-84119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ITC to acquire Yoga Bar; to strengthen presence in healthy foods space - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Diversified conglomerate ITC on Tuesday announced the acquisition of Sproutlife Foods Pvt Ltd (SFPL), which owns Direct-to-Consumer (D2C) brand Yoga Bar.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-itc-yoga-bar\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ITC to acquire Yoga Bar; 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