Tata Consumer to buy Kottaram Agro Foods

Tata Consumer Products Ltd will acquire Kottaram Agro Foods Pvt Ltd for 1.56 bln rupees, the company said in a regulatory filing. Kottaram Agro Foods is the owner of 'Soulfull' brand which operates in the breakfast cereals and healthy snacking category.

The brand currently has a strong presence in select urban markets in South, West, and North India. The move is in line with Tata Consumer's intent to expand its product portfolio. There are significant synergies possible with the existing business of Tata Consumer in areas spanning distribution, procurement, and logistics, the company said.

Tata Consumer's Managing Director and CEO Sunil D'Souza said the acquisition of Kottaram Agro opens significant new market opportunities in the fast-growing mini meals segments.

"We believe Tata Consumer is well positioned to unlock the full potential of the "Soulfull" brand and scale up its presence given the growing consumer need of healthy and convenient food options that they can trust," D'Souza said.