ITC Plows ₹472.5 Cr into Organic Growth with 24 Mantra Acquisition

ITC has signed a ₹472.5 crore deal to acquire 24 Mantra Organic, a leading organic packaged foods brand, from Sresta Natural Bioproducts. The transaction includes an upfront payment of ₹400 crore and a ₹72.5 crore earn-out tied to performance milestones over 24 months. Key details: Portfolio:...

ITC has signed a ₹472.5 crore deal to acquire 24 Mantra Organic, a leading organic packaged foods brand, from Sresta Natural Bioproducts. The transaction includes an upfront payment of ₹400 crore and a ₹72.5 crore earn-out tied to performance milestones over 24 months. Key details: Portfolio: 100+ organic products, including staples, spices, and edible oils, sourced from 27,500 farmers across 1.4 lakh acres of certified land Strategy: Aligns with ITC’s ‘ITC Next’ vision to expand its health-focused FMCG portfolio and leverage 24 Mantra’s farm-to-fork supply chain Market potential: Targets India’s ₹10,000 crore organic sector, bolstered by government initiatives and rising consumer demand The acquisition, set to close by Q1 FY2025-26, aims to strengthen ITC’s domestic and international presence, particularly among the Indian diaspora Source: Business Today, Times of India