LT Foods Expands Horizons: Acquires Global Green Europe for €25 Million, Enters Canned Food Market

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LT Foods has made a strategic €25 million acquisition of Global Green Europe, marking its entry into the canned and shelf-stable fruits and vegetables business. This expansion diversifies LT Foods’ portfolio beyond rice and organic products, strengthening its European presence with two manufacturing sites and supplying over 30 countries.

LT Foods Limited, a leading Indian-origin global FMCG company known primarily for its basmati rice brands, has taken a major step in diversifying its product portfolio by entering the European canned food market. The company announced the acquisition of 100% stakes in Global Green Europe and affiliated entities for approximately €25 million. This move enables LT Foods to broaden its offerings into shelf-stable fruits and vegetables, including canned sweet corn, gherkins, silver skin onions, and sour cherries.

The acquisition includes Global Green Europe Kft., Greenhouse AGRAR Kft., and Global Green International (UK) Limited. These companies operate two manufacturing sites over 45 hectares in Hungary and supply more than 30 European countries. They have a combined annual production capacity of 117 million jars and cans, supported by a workforce exceeding 170 employees.

The financial structure of the deal consists of an upfront payment and an earn-out mechanism based on future performance, with the transaction expected to close in the third quarter of fiscal 2025-26 following regulatory approvals in Hungary.

This strategic acquisition complements LT Foods' existing portfolio, which includes premium basmati rice, organic foods, and ready-to-eat meal kits. It is part of LT Foods’ broader vision to expand its global footprint and diversify product categories to capture growing consumer demand for convenient, healthy food options.

Major Takeaways:

Acquisition of Global Green Europe and subsidiaries for a total consideration of around €25 million.
Entry into the processed ambient fruits and vegetables segment, enhancing portfolio diversity.
Operations based in Hungary with two manufacturing plants spanning 45 hectares.
Annual production capacity of 117 million jars and cans catering to over 30 countries in Europe.
Workforce of more than 170 employees maintained by the acquired entities.
Financial terms include an upfront payment with performance-based earn-out, pending FDI approval.
Strengthening LT Foods' European presence and global diversification strategy.
Enhancing ability to meet consumer demand for shelf-stable, convenient food products.

This acquisition solidifies LT Foods’ position as a multi-category global food player and demonstrates its commitment to growth via strategic investments in new geographic and product markets.

Sources: LT Foods official press release, ScanX Trade, Business Standard, LT Foods investor reports

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