In a significant move to diversify its offerings, Kolkata-based snack food major Annapurna Swadisht Limited (ASL) has announced the acquisition of a controlling stake in Andri Agro Foods Private Limited (AAFPL). The strategic acquisition is valued at an estimated Rs 4.5 crore for a majority shareholding.
Deal Details and Strategic Expansion
The company has formally entered into a share purchase agreement with the existing shareholders of AAFPL to acquire 75% of the equity share capital. The total enterprise value for this transaction is pegged at Rs 15 crore. Upon the completion of the deal and necessary formalities, Andri Agro Foods will operate as a subsidiary of Annapurna Swadisht Limited. This information was officially communicated by ASL in a recent notification to the stock exchanges.
The primary objective behind this acquisition is to strengthen ASL's footprint in the growing market for soya-based products, both within India and in overseas territories. Andri Agro Foods brings to the table a robust portfolio that includes:
- Soya chunks and granules
- 3D pellets
- Textured Vegetable Protein (TVP)
- Other value-added agro-food products
Manufacturing Strength and Brand Portfolio
Andri Agro Foods operates a modern manufacturing facility located in Raniganj, Asansol, West Bengal. This plant boasts an impressive annual production capacity of 4.2 lakh tonnes of soya-based products and is equipped with advanced machinery sourced from Italy and Japan.
The company markets its products under the 'So Best' brand. Additionally, it has a strong business-to-business model, undertaking job work for several established and popular brands in the food sector, including Haldiram and Akash. Currently, AAFPL has built a distribution network of approximately 200 distributors spread across eastern India, which ASL can now leverage.
Leadership Vision and Financial Context
Commenting on this strategic development, Shreeram Bagla, Chairman and Managing Director of Annapurna Swadisht Limited, stated that the move aligns with the company's broader growth strategy. He emphasized that the acquisition is a key part of their plan to strengthen the product portfolio and enter new geographical markets through both organic and inorganic channels.
"Acquisition of AAFPL will enable us to establish our presence in the soya-based products markets both in India and overseas," Bagla said. This deal comes at a time when ASL reported consolidated revenues of Rs 249.9 crore for the first half of the financial year 2025-26 (FY26), indicating a strong financial position to support such expansionary activities.
The acquisition marks a pivotal step for Annapurna Swadisht as it seeks to capture a larger share of the health-focused and protein-rich food segment in India, while also eyeing international growth opportunities.
