Agro Tech Foods completes acquisition of Del Monte India

ATFL has also appointed Harjeet Kohli, the Joint Managing Director of Bharti Enterprises

Agro Tech Foods Limited has completed its acquisition of Del Monte Foods Private Limited (DMFPL), marking a significant milestone in its expansion strategy. In the fiscal year 2024, ATFL and DMFPL reported a combined turnover of Rs 1,300 crore, with DMFPL contributing 40 per cent of this total. Additionally, DMFPL’s contribution to the combined entity’s EBITDA in FY24 was 38 per cent. This acquisition solidifies ATFL’s position as a leading player in India’s food and FMCG sector.

With the completion of this acquisition, Bharti and Del Monte Pacific Limited (DMPL) are now shareholders of ATFL. Bharti has become the second-largest shareholder with a 21 per cent stake, while DMPL holds a 14 per cent stake in ATFL. ATFL has also appointed Harjeet Kohli, the Joint Managing Director of Bharti Enterprises, as a director on the board of ATFL to further strengthen its governance.

The partnership will incorporate Del Monte’s diverse portfolio of food products—including its well-known Italian foods, condiments, packaged fruits, and beverages—under ATFL’s expanding umbrella. Moreover, ATFL now holds an exclusive and perpetual license for the Del Monte brand in India, which will support continued growth and long-term brand equity.

A key asset in this partnership is the state-of-the-art manufacturing and R&D facility located in Hosur, Tamil Nadu. This facility will enhance ATFL’s operational capabilities, enabling new product innovations, quality control improvements, and expanded market distribution. Overall, this collaboration aligns with ATFL’s commitment to providing innovative, delicious, and convenient food solutions to consumers across India, catering to both retail and business-to-business segments, including quick-service restaurants and institutional buyers.