ITC to acquire Yoga Bar! Here's everything you need to know

ITC in focus

ITC will acquire 100% of Sproutlife Foods Private Limited (SFPL), a Direct-to-Consumer (D2C) start-up over a period of 3 to 4 years

About Sproutlife Foods Private Limited 

Sproutlife Foods Private Limited (SFPL), a Direct-to-Consumer (D2C) start-up is engaged in the manufacture and sale of innovative products catering to health-conscious consumers under the clean label, new-age digital-first brand ‘Yoga Bar'

 ITC-Yoga Bar: First phase

An initial investment of Rs 175 crore will be made through primary subscription and secondary purchases for the acquisition of 39.4% of the paid-up share capital on a fully diluted basis, which is expected to be completed by February 15, 2023

ITC-Yoga Bar:
Second phase

Further infusion of Rs 80 crore will be made through primary subscription, in one or more tranches, by March 31, 2025, or such other later date

Yoga Bar: Healthy
snacks brand

Founded in 2014, YogaBar comes under the umbrella of Sproutlife Foods, a group founded by Suhasini Sampath and Anindita Sampath

Yoga Bar products

Yoga Bar is a nutrition-led food company offering healthy snack options such as Protein Bars, Muesli, Peanut Butters, and Gluten-Free Oats

Yoga Bar Financials

Yoga Bar reported a turnover of Rs 39 crore in FY21, which increased to Rs 68 crore in FY22

Presence in 'Good
for You' space

The acquisition will enable ITC to enhance its market presence in the 'Good for You' space which currently includes Aashirvaad Multi-Grain Atta and Aashirvaad Nature's Super Foods among others

ITC on D-Street

Shares of ITC have delivered over 50% return to its shareholders in the last one year

ITC Stock's performance

Shares of ITC hit its 52-week high of Rs 361.90 on November 11, 2022, and a 52-week low of Rs 207 on February 24, 2022

Disclaimer

The stock mentioned in the story is for information purposes only. Investors or market participants should consult their financial advisors before taking any position

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Story by: Tanya Aneja
Designed by: Pragati

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