Tata Consumer Products to buy Capital Foods for $616 mlnThe company will initially buy a 75 per cent stake in Capital Foods, which manufactures packaged food and condiments such as chutney, sauces and noodles under their 'Ching's Secret' and 'Smith & Jones' brands.
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Tata Consumer Products.
Credit: https://www.tataconsumer.com
Bengaluru: Tata Consumer Products will buy Capital Foods for an enterprise value of 51 billion rupees ($615.95 million), it said in an exchange filing on Friday.
The company will initially buy a 75 per cent stake in Capital Foods, which manufactures packaged food and condiments such as chutney, sauces and noodles under their "Ching's Secret" and "Smith & Jones" brands.
It will buy the remaining 25 per cent stake in the Mumbai-based firm within three years as Tata Consumer seeks to enter new high-growth categories in the food and beverage space.