Packaged Food Maker Annapurna To Acquire Majority Stake In Andri Agro
The move is aimed at strengthening ASL's product portfolio and enabling its entry into the soya-based food products market both in India and overseas.
Packaged food manufacturer Annapurna Swadisht Ltd on Tuesday announced that it would acquire a majority stake in West Bengal-based Andri Agro Foods Pvt Ltd for a total enterprise value of Rs 15 crore.
The company has entered into an agreement to acquire 75% of the equity share capital in AAFPL. Post-acquisition, Andri Agro Foods will become a subsidiary of ASL, a company statement said.
The move is aimed at strengthening ASL's product portfolio and enabling its entry into the soya-based food products market both in India and overseas. AAFPL manufactures a range of products, including soya chunks and textured vegetable protein (TVP).
'The acquisition of AAFPL will enable us to establish our presence in the soya-based product markets both in India and overseas. Besides, it will enable us to enter the groceries segment through bulk and premium namkeen products,' Annapurna Swadisht CMD Shreeram Bagla said.
The deal would also open export opportunities for the company's existing portfolio alongside namkeen products, significantly boosting the topline and bottomline, he said.
AAFPL operates a manufacturing unit at Raniganj in West Bengal with an annual capacity of 4,20,000 tonnes. The company, which markets products under the brand 'So Best', also undertakes job-work for major brands like Haldiram and Akash.
ASL and AAFPL are targeting a combined turnover of Rs 50-60 crore at approximately 60 per cent capacity utilisation of the acquired unit. ASL had previously reported consolidated revenues of Rs 249.90 crore in the first half of the 2026 fiscal year.
This marks the second major inorganic growth move for ASL following its acquisition of Madhur Confectioners Pvt Ltd in FY'25, which helped the firm expand into international markets, including the UAE, Europe, and Africa.
