LT Foods Expands European Footprint with Strategic Acquisition of Global Green Europe

LT Foods, an Indian FMCG company, announces its acquisition of Global Green Europe Kft for 25 million euros. The deal enhances LT Foods' presence in the European packaged food market and marks its entry into the canned food segment. This expansion aligns with the company's long-term growth strategy.

In a strategic expansion move, LT Foods, the Indian FMCG firm, has announced its acquisition of Hungary-based Global Green Europe Kft. The deal, valued at approximately 25 million euros, is set to bolster LT Foods' presence in the European packaged food market, particularly within the canned food sector.

The acquisition will see LT Foods paying an initial 6 million euros for the equity, followed by an earn-out mechanism for the remaining 1.8 million euros over two years. This transaction not only includes Global Green Europe but also encompasses Global Green International (UK) Limited and Greenhouse Agrar Kft, providing a robust distribution network.

LT Foods Executive Chairman V K Arora emphasized the synergy between this acquisition and the company's existing business in Europe. By entering the processed canned food market, LT Foods aims to diversify its food portfolio while continuing its leadership in rice-based products, thereby strengthening its RTH and RTE segments.

(With inputs from agencies.)