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Business EconomyPosted at: Feb 6 2025 10:52PM


Agro Tech Foods completes acquisition of Del Monte India

New Delhi, Feb 6 (UNI) Agro Tech Foods Ltd (ATFL) on Thursday announced the completion of its acquisition of Del Monte Foods Private Ltd (DMFPL), marking a significant milestone in its expansion strategy.
The Rs 1,300 crore all-stock transaction solidifies ATFL’s position in the packaged foods sector.
"With this, Bharti Enterprises and Del Monte Pacific Limited (DMPL), have become shareholders of ATFL following the completion of a preferential allotment of equity shares of ATFL, with Bharti becoming the second largest shareholder with 21% stake and DMPL having 14% stake in ATFL," the company said in a media release.
ATFL has appointed Bharti Enterprises joint managing director Harjeet Kohli as a director on the board of the company.
The partnership brings Del Monte’s diverse portfolio of food products, including its popular Italian foods, condiments, packaged fruits, and beverages, under ATFL’s expanding umbrella.
Additionally, ATFL now holds an exclusive and perpetual license for the Del Monte brand in India, ensuring continued growth and long-term brand equity.
Commenting on the completion of the acquisition, Nitish Bajaj, Group MD of Agro Tech Foods stated, “We are excited to formally welcome Del Monte India into the ATFL family. This strategic partnership strengthens our ability to offer a broader range of high-quality food products to Indian consumers.
"With Del Monte’s strong brand recognition and our expertise in food innovation and distribution, we are well-positioned to accelerate growth and create significant value for our stakeholders,” said Bajaj.
Abhinav Kapoor, CEO and Whole Time Director of Del Monte Foods said, “The combination of the soon-to-be-rebranded Sundrop Brands and Del Monte Foods Pvt Limited marks a strategic milestone, unlocking new avenues of growth for the business." UNI NK SSP
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Tags: #Agro Tech Foods completes acquisition of Del Monte India
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