Allana Group, exporter of processed food products and agro commodities, has picked up a minority stake in consumer products company LT Foods.
The group has picked up a one per cent stake in LT Foods at an investment of Rs 20 crore, said a company statement.
Announcing the acquisition, the group said that both companies have plans to use their synergies and technology transfer to expand LT Foods’ consumer products business to focus on value-added and impulse products.
Allana Group distributes premium brands such as London Dairy Ice Cream, Sunny Oil, and Pristine Bakery. It is among India’s major exporters of frozen and chilled meat, processed and frozen fruit and vegetable products, coffee, spices and cereals to over 85 countries.
The group is making several strategic investments in both public and private companies they can partner with.
Its world class integrated processing units and cold storages along with state-of-the art machinery have helped the company evolve into a multidimensional and multiproduct conglomerate. It ensures that all its processes are duly accredited by leading international organisations.
Fauzan Alavi, Director of Allanasons said: “Both companies have underlying strengths in distribution, production and marketing of food products. This will give the alliance a superior edge in the market.”
“We look forward to working with LT Foods and synergise our strengths to provide our products in the Indian market and also explore export markets together to capitalise on our strengths while maintaining the highest standards of quality in procurement, manufacturing and distribution.”