Sun rises for ITC's aggressive acquisitions
ITC's acquisition of Sunrise is its biggest deal in the past two decades and shows company's readiness for inorganic growth to meet the turnover target of Rs 1 lakh crore for its non-cigarettes FMCG business by 2030
- May 25, 2020,
- Updated May 25, 2020 10:55 PM IST
Call it a sunrise at night if you will, ITC's note to bourses on Sunday night that it has entered into a Share Purchase Agreement (SPA) to acquire 100 per cent of the equity share capital of Sunrise Foods Private Limited (SFPL), a company primarily engaged in the business of spices under the trademark 'Sunrise', is more than just another deal by the FMCG giant with interests across the board from tobacco to hotels.
Call it a sunrise at night if you will, ITC's note to bourses on Sunday night that it has entered into a Share Purchase Agreement (SPA) to acquire 100 per cent of the equity share capital of Sunrise Foods Private Limited (SFPL), a company primarily engaged in the business of spices under the trademark 'Sunrise', is more than just another deal by the FMCG giant with interests across the board from tobacco to hotels.