Tata Consumer Products to acquire Kottaram Agro Foods for Rs.155.8 cr
The strategic alliance intends to expand the product portfolio and participate in multiple consumption occasions.
Tata Consumer Products Limited (TCPL) recently announced that they have acquired 100% equity shares of Kottaram Agro Foods (KAF), owner of the brand ‘Soulfull’ for Rs.155.8 cr. This strategic alliance intends to expand the product portfolio and participate in multiple consumption occasions.
KAF was founded by Prashant Parameswaran, Rasika Prashant, Dr K K Narayanan and Amith Sebastian and in the year 2013, the brand ‘Soulfull’ was launched. The brand which operates in the Health and Wellness industry produces millet-based goods for kids and adults. It is one of the fastest-growing brands in the Indian market. It currently holds a strong presence in select urban markets in South, West, and North India. They have an innovative collection of products such as cereals, healthy snacks, muesli, and plant-based protein drinks.
In an official statement, Sunil D’Souza, MD & CEO, Tata Consumer Products said, “This acquisition is a good strategic fit for Tata Consumer Products. It opens to us significant new market opportunities in the fast-growing mini-meals segments and helps us partner a passionate and ambitious team of entrepreneurs who will remain and become a part of the Tata Consumer Products team. 'Soulfull' synergizes well with our existing product portfolio, our distribution network as well as the supply chain. We believe Tata Consumer is well-positioned to unlock the full potential of the 'Soulfull' brand and scale up its presence given the growing consumer need for healthy and convenient food options that they can trust."
Prashant Parameswaran, MD & CEO, Kottaram Agro Foods mentioned, “We are extremely proud to associate with Tata Consumer Products which provides us with a great platform for furthering Soulfull’s purpose of making ancient millets relevant for the 21st century. Tata Soulfull will enhance the brand’s credibility and make health more accessible and mainstream while retaining its vibrancy. The Tata brand is one that has always inspired me and fits perfectly with the values of Soulfull. This partnership would enable us to not just scale our existing business but also enter new categories in the fast-growing Health and Wellness market. With our team’s continued commitment to building the business under the aegis of Tata Consumer, we will be able to unleash an extremely powerful combination of the strength of Tata Consumer and the agility of Soulfull. I am extremely grateful to Dr K K Narayanan for his guidance and mentorship through the course of this journey."
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