Inside BENEO’s new pulse plant: pioneering sustainable protein from faba beans
47.5% stake will be acquired, in tranches, by March 31st 2025
ITC has announced that the company plans to acquire 100% of the share capital (on a fully diluted basis) of Sproutlife Foods, a Bengaluru-based startup primarily engaged in the business of manufacture and sale of food products under the trademark ‘Yoga Bar’.
ITC is fortifying its presence in the Rs 45,000 crore, fast growing, nutrition-led healthy foods space, with a proposed strategic investment in Sproutlife Foods.
The acquisition will enable ITC to augment its future-ready portfolio and enhance market presence in the ‘Good for You’ space which currently includes Aashirvaad Multi-Grain Atta, Aashirvaad Nature’s Super Foods, Farmlite range of biscuits, Sunfeast Protein Shake, B Natural Nutrilite ABC Beverage among others. Yoga Bar is expected to be rapidly scaled up, leveraging ITC’s enterprise strengths in areas such as sales & distribution, sourcing, product development, and digital.
Yoga Bar currently has a high salience of online sales (D2C, e-commerce platforms etc.) with growing presence in offline stores. In a relatively short span of time, Yoga Bar has established itself as a leader in the bars segment and has built a strong market position in the muesli segment.