With a planned strategic investment in M/s. Sproutlife Foods Private Limited (SFPL), a Direct-to-Consumer (D2C) Start-Up, Kolkata-based Indian private conglomerate ITC is strengthening its footprint in the Rs. 45,000 crores fast-growing, nutrition-led healthy foods industry.
According to an announcement from ITC, the acquired business manufactures and sells cutting-edge goods for consumers who are health-conscious under the clean-label, modern, digital-first brand “Yoga Bar.”
Over the course of three to four years, ITC will purchase the whole stock of SFPL. By March 31, 2025, a 47.5% share in SFPL will be bought in instalments. The remaining stake will be acquired based on pre-determined value standards, subject to additional terms outlined in the legally binding papers.
Yoga Bar’s product line includes cereals, bars, muesli, and oats, all of which are anchored on the tenets of “All Natural and No Artificial Ingredients.” The importance of online sales for Yoga Bar is now strong (D2C, e-Commerce platforms, etc.), and its offline retail presence is expanding.
The acquisition will allow ITC to expand its future-ready portfolio and strengthen its market position in the “Good for You” category, which currently includes products like Aashirvaad Multi-Grain Atta, Aashirvaad Nature’s Super Foods, the Farmlite line of biscuits, Sunfeast Protein Shake, and B Natural Nutrilite ABC Beverage, among others, according to a press release.
ITC’s corporate capabilities in areas like sales & distribution, procurement, product development, and digital are anticipated to be used to quickly scale out Yoga Bar.
This investment is consistent with the “ITC Next” strategy outlined by Chairman Mr. Sanjiv Puri, which emphasises the development of a portfolio of goods that are prepared for the future and meet changing customer demands.
