CCI Greenlights Major Acquisition of Prataap Snacks by Authum and Kela

The Competition Commission of India has approved Authum Investment & Infrastructure and Mahi Madhusudan Kela's plan to acquire a 72.8% stake in Prataap Snacks Ltd. The Indore-based company, known for its 'Diamond' brand snacks, reaches over 2.5 million touchpoints across India.

In a significant development, the Competition Commission of India (CCI) has granted approval for the acquisition of a 72.8% stake in Prataap Snacks Ltd by Authum Investment & Infrastructure and investor Mahi Madhusudan Kela. This acquisition marks a key moment in the Indian snack industry as Prataap Snacks, famous for its 'Diamond' brand, prepares for a new chapter.

Prataap Snacks, headquartered in Indore, has made a name for itself with a wide variety of popular snacks like chips, nuts, and crisps. The company boasts 15 manufacturing units and collaborates with over 5,200 distributors, thereby ensuring its presence at over 2.5 million touchpoints within India.

This acquisition was subject to regulatory approval, as deals exceeding certain thresholds require oversight to prevent unfair practices and maintain competitive balance in the market. Authum Investment & Infrastructure, led by Alpana Sanjay Dangi, is a registered NBFC specializing in investment and financing, with a focus on enhancing stakeholder value.

(With inputs from agencies.)