A big step for ITC was the purchase of a 39% share in Sproutlife Foods, the business that owns Yoga Bar, for Rs 175 crore. With the acquisition, ITC would be able to penetrate the expanding food and beverage market in India’s health and wellness sector.
Yoga Bar is a market leader in the segment of healthy snacks, offering a variety of items such nutrition bars, trail mixes and roasted almonds. Due to consumers’ increased health consciousness and desire for better snack options, the brand has grown in popularity in recent years.
ITC will be able to capitalise on the brand’s strong position in the health and wellness market and increase its footprint in this market by purchasing a sizeable interest in Sproutlife Foods. The action is consistent with ITC’s aim to broaden its product line and take advantage of new growth prospects in the FMCG industry.
ITC made a smart decision with this acquisition overall, showing that it is committed to growing its market share in India’s FMCG industry. Additionally, it draws attention to the expanding desire for better snack options as well as the growing significance of health and wellness items on the Indian market.
