FCL Tradevest Pvt Ltd, a wholly-owned subsidiary of Future Consumer Ltd, has completed the acquisition of the balance stake of 0.07 per cent in Integrated Food Park Limited.
"With this acquisition, IFPL has now become a wholly-owned subsidiary of FCL Tradevest and continues to be a step-down subsidiary of the company," FCL Tradevest said.
Future Consumer, in its annual report for 2020-21, had said it expects consumer behaviour that completely shifted to online shopping due to COVID-19 will remain so in the long term. Considering that, the company is focusing on changing the orientation of all business and brand activities to make them Digital First.
The company said it believes that "habits formed in current times will tend to remain in the long term as well". It has been "agile to adapt itself to ensure your company's portfolio commands leading shares in the online basket", the company added.
FCL's portfolio of food, home and personal care products include 'Golden Harvest', 'Tasty Treat', 'Karmiq', 'Desi Atta Company', 'Mother Earth', 'Voom', 'Cleanmate' and 'Caremate'.
Meanwhile, the company stock closed at Rs 6.95 today, 0.15 or 2.11 per cent down, on the National Stock Exchange.
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