The transaction involves the purchase of 1.87 crore equity shares, making SNBPL a wholly owned subsidiary of ITC. As part of the deal, SNBPL’s subsidiaries — Fyve Elements LLC in the US and Sresta Global FZE in the UAE —have become step-down wholly owned subsidiaries of ITC, effective June 13, 2025.
Founded as a pioneer in the organic packaged staples segment, SNBPL sells products under the ‘24 Mantra Organic’ brand. The company has built a network of about 27,500 farmers cultivating around 1.4 lakh acres of certified organic farmland across 71 clusters in 10 Indian states.
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ITC said the acquisition aligns with its strategy to strengthen a future-ready food portfolio and scale its presence in both Indian and global organic markets. SNBPL has an established distribution setup in the US and offers a wide product range backed by strong brand equity.
The acquisition was completed on a cash-free, debt-free basis, with an upfront consideration of ₹400 crore and a potential additional payout of up to ₹72.5 crore over the next 24 months, subject to agreed conditions. The deal does not fall under related party transactions, and ITC has confirmed that the acquired business complements its main line of operations in the food sector.
Shares of ITC Ltd ended at ₹413.90, down by ₹7.05, or 1.67%, on the BSE.
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