InvestorQ : What is the benefit for shareholders in ITC acquiring Sunrise Foods?
Neelam Naik made post

What is the benefit for shareholders in ITC acquiring Sunrise Foods?

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Priyanka N answered.
6 months ago
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ITC is all set to make its biggest acquisition of Sunrise Foods, a private company engaged in the business of spices. ITC will take a 100% stake in the company. It is estimated that the deal could be worth close to Rs.2000 crore. Sunrise Foods had annual turnover of Rs.600 crore. It sells its products under the popular Sunrise brand and has extensive presence across East India as well as in Uttar Pradesh, Delhi, NCR and Rajasthan. Sunrise has plants at Kolkata, Agra, Bikaner and Jaipur. This acquisition will help ITC rapidly scale up its FMCG businesses. Sunrise has been facing some cash flows problems in the post-COVID scenario and this could come as a bailout for them.

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