Tata Consumer Products Ltd (TCPL) on Friday signed definitive agreements to acquire 100% equity shares of Capital Foods, owner of the brands Ching’s Secret and Smith & Jones, and Organic India, a company that sells organic herbal teas and health foods.
While the acquisition of Capital Foods will be in a phased manner, TCPL will acquire 100% of Organic India in an all-cash deal.
TCPL will pay an enterprise value on a no cash-no debt basis of ₹5,100 crore for 100% stake in Capital Foods. While 75% of the equity shareholding will be acquired upfront, the remaining 25% will be acquired within the next three years, TCPL said in a filing to the exchanges on Friday evening.
For a 100% stake in Organic India, TCPL will pay ₹1,900 crore, along with an additional earnout for the shareholders linked to FY26 audited financials of the company. The estimated turnover of Organic India for FY24 is ₹360 - 370 crore, up from ₹324.4 crore in FY23.
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