ITC Limited has signed definitive agreements to acquire Ample Foods Private Limited (AFPL) and its subsidiaries, Chao Chao Foods Private Limited and Meat and Spice Private Limited (MSPL). The deal grants ITC full ownership of AFPL, a company known for its ready-to-cook snacks, sauces, deli meats, marinades, cheese, and frozen foods sold under the brands Prasuma and Meatigo.
Under the terms of the agreement, ITC will take an initial 43.8% stake in Prasuma, with plans to gradually increase its holding to 100% over the next three years. The full acquisition is expected to be completed by June 2028, contingent on valuation criteria and other conditions outlined in the agreements.
This acquisition strengthens ITC’s position in the evolving packaged foods sector, enhancing its portfolio with established brands in the fast-growing ready-to-eat and frozen food categories.
