New Delhi: The Allana Group, India’s largest exporter of processed food products and agro commodities, has picked up a minority stake in LT Foods, a leading consumer products company in India. The Group has picked up a one per cent stake in LT Foods with an investment of Rs 20 crore.
Announcing the acquisition, the group said that both companies have plans to use their synergies and technology transfer to expand LTs consumer products business to focus on value-added and impulse products.
The Allana Group distributes premium brands such as London Dairy Ice Cream, Sunny Oil, and Pristine Bakery. It is India’s largest exporter of frozen and chilled meat, processed and frozen fruit and vegetable products, coffee, spices and cereals to over 85 countries. The group is making several strategic investments in both public and private companies they can partner with.
Its world class integrated processing units and cold storages along with state-of-the art machinery have helped the company evolve into a multidimensional and multiproduct conglomerate. It ensures that all its processes are duly accredited by leading international organizations.
Speaking on the occasion Fauzan Alavi, Director of Allanasons said, “Both companies have underlying strengths in distribution, production and marketing of food products. This will give the alliance a superior edge in the market. We look forward to working with LT Foods and synergise our strengths to provide our products in the Indian market and also explore export markets together to capitalise on our strengths while maintaining the highest standards of quality in procurement, manufacturing and distribution.”
LT Foods is a leading player in the rice market with leading brands like Daawat, Royal and Devayya and has a network in over 65 countries. The company clocked an impressive revenue and bottomline growth looking to end FY21 with revenues of Rs 4,500 crore and EBITDA of Rs 600 crore.
Last year, LT Foods acquired a 30 per cent stake in Leev.nu of the Netherlands through its subsidiary Nature Bio Foods BV (NBF B.V.), with an option to acquire a further 21 per cent stake at the end of five years.
The Allana group was established in 1865, and is India’s largest exporter of branded processed food products and agro commodities to over 85 countries. The group is acknowledged as a global leader in the manufacture and export of various consumer products including frozen and chilled meat, aseptic and frozen fruit, vegetable products, coffee and spices.
The group currently enjoys the status of “Five Star Trading House”, one of the rare recognitions conferred by the Ministry of Commerce, Government of India under the Promotional Measures of Foreign Trade Policy. The group is also one of the three largest exporters of coffee from India from its curing and processing facilities in the coffee cultivation region of south India, as well as a dominant exporter of spices, pulses and cereals from its state-of-the-art facilities.