Allana Group picks up minority stake in LT Foods

By 03 Apr 2021

Mumbai-based exporter of processed food products and agro commodities, Allana Group, has announced that it has picked a minority stake of 1% in consumer products firm LT Foods.

LT Foods boasts its presence in more than 65 countries

Allana is one of the largest exporters of branded processed food products and agro commodities to over 85 countries. Its products include frozen meat, frozen fruit and vegetable products, coffee, spices and cereals, among others.

Fauzan Alavi, director, Allanasons, said, “We look forward to working with LT Foods and synergise our strengths to provide our products in the Indian market and also explore export markets together to capitalise on our strengths while maintaining the highest standards of quality in procurement, manufacturing and distribution.”

Both companies have plans to use their synergies and technology transfer to expand LT Foods consumer products business to focus on value-added and impulse products.

LT Foods is one of the leading processors of rice and other speciality foods in India, with brands like Daawat, Royal and Devayya. A 70-year-old consumer food company has a presence in more than 65 countries.

Last year, LT Foods had acquired a 30% stake in of the Netherlands through its subsidiary Nature Bio Foods BV with an option to acquire a further 21% stake at the end of five years.

(Courtesy: PTI)



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