ITC acquires entire stake in Sunrise Foods
28th Jul 2020

ITC has acquired 100% of the equity share capital of Sunrise Foods on July 27, 2020. Consequent to the above, Sunrise and its two subsidiaries viz., Sunrise Sheetgrah and Hobbits International Foods, have become wholly owned subsidiaries of the company with effect from the aforesaid date.

The acquisition will augment the company’s product portfolio and is aligned to ITC’s aspiration to significantly scale up its Spices business and expand its footprint across the country. The deep consumer connect of Sunrise in the focus markets, together with synergies arising out of the sourcing and supply chain capabilities of the company’s Agri Business and its pan-India distribution network, will provide significant value creation opportunities for the company.

ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agribusiness, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.