Cyril Amarchand Mangaldas (“CAM”) advised ITC on the acquisition of 100% stake in Meat and Spice Private Limited (“MSPL”) and Ample Food Private Limited (“AFPL”) (and its wholly owned subsidiary, Chao Chao Foods Private Limited). The acquisition is proposed to be completed over a period of 3 years, by way of primary and secondary means. The first tranche of 43.8% stake shall be acquired upfront and balance stake will be acquired, in tranches, by June, 2028 subject to conditions as stated in the definitive agreements.
The companies are engaged in the business of manufacturing and selling ready to cook snacks & meals, sauces & condiments, raw & deli meat, local & international marinades, momos, cheese and frozen foods & snacks under the brand names ‘Prasuma’ and ‘Meatigo’.
The transaction team was led by S. Harish, Partner; with support from Megha Krishnamurthi, Principal Associate; Nikita Singhi, Senior Associate; and Varnika Pasricha, Associate.
The due diligence was led by S. Harish, Partner; with support from Megha Krishnamurthi, Principal Associate; Nikita Singhi, Senior Associate; Achyutha G M, Associate; Varnika Pasricha, Associate; and Rahi Dhuvad, Associate.
The employment due diligence was led by Bishen Jeswant, Partner; with support from Krithika Radhakrishnan, Principal Associate; Rachita Shah, Associate; Shivika Gupta, Associate; and Keshab Choudhury, Associate.
Ramgovind Kuruppath, Partner; provided strategic inputs.
