ITC to acquire 24 Mantra Organic for Rs 472.5 crore to boost FMCG play

India’s FMCG giant ITC Ltd announced the acquisition of a 100 per cent stake in Sresta Natural Bioproducts Pvt Ltd, the maker of 24 Mantra Organic, for up to Rs 472.50 crore on a cash-free, debt-free basis. The move will bolster ITC’s Foods Business, aligning with its ‘ITC Next’ strategy to tap into premium, health-forward consumption trends in India and abroad.

Split payment structure for acquisition

The deal will involve Rs 400 crore payable upfront and an additional Rs 72.5 crore over the next 24 months based on performance metrics. The transaction is expected to be completed in Q1 of FY26 or at a mutually agreed later date.

100+ products, strong global connect

SNBPL, incorporated in 2004, recorded Rs 306.1 crore in revenue in FY24. It has a diverse portfolio of over 100 organic food products, including staples, spices, oils, and beverages. Its global footprint, especially among the Indian diaspora, enhances ITC’s export prospects.

Backed by solid sourcing and farmer network

Commenting on the deal, ITC Wholetime Director Hemant Malik said, “We are excited to welcome 24 Mantra Organic into our nutrition-led foods portfolio. Its strong backend sourcing capabilities will add value to ITC’s growing foods business.”

SNBPL Founder and MD Rajashekar Reddy Seelam added that ITC’s scale and distribution will help expand the brand’s reach across millions of households.

Push to premium wellness foods

The acquisition is part of ITC’s broader plan to create a future-ready FMCG portfolio, with Sanjiv Puri’s leadership pushing for sustainability, health, and innovation. With wellness products witnessing rising demand, the 24 Mantra brand gives ITC an edge in the growing Rs 5,000-crore Indian organic foods market.

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