Retail Food Sector

Diversified conglomerate ITC Ltd has signed definitive agreements to acquire a 100 per cent stake in Prasuma, a leading brand in the frozen, chilled, and ready-to-cook foods segment, for greater footprint in the Rs 10,000 crore sector. The company announced on Thursday that by April 2027, it will invest around Rs 187 crore to acquire 62.5 per cent of Prasuma. The valuation for the remaining 37.5 per cent will be decided at a later date. The acquisition will be carried out in multiple tranches over three years. In the first phase, ITC will acquire a 43.8 per cent stake in Ample Foods Private Limited (AFPL), which owns the Prasuma brand, along with its subsidiary Chao Chao Foods Private Limited and its associate company Meat and Spice Private Limited (MSPL). The initial investment of Rs 131 crore will be made through a combination of primary subscription and secondary purchases, expected to be completed by March 2025. ITC's equity stake in Prasuma will subsequently increase to 62.5

Kerala, Telangana, and Tamil Nadu lead India in household consumption, surpassing the national average in spending

Conversely, among non-food items, rural households reduced spending on medical care, education, rent, fuel, and durable goods

Lawsuit was filed in Philadelphia Court by Bryce Martinez who alleges he developed type 2 diabetes and non-alcoholic fatty liver disease, diagnosed at age 16, by consuming the firms' products

FSSAI has asked firms to ensure minimum shelf life of 30% or 45 days before products expire on delivery

Industry growth steady and reflects resilience and adaptability, says consumer research firm NielsenIQ

Spending on processed food by the urban elite consumer more than doubled in FY23; it surged more than threefold for middle-income consumers

Krishnakumar added that when it looks at categories within foods it tries to see if those are the categories it wants to operate in

Shares of the Springdale, Arkansas-based company rose about 3% in premarket trade at $58

Over 25,000 fair price shop dealers from Jharkhand on Monday joined the nation-wide indefinite 'Ration Bandh' call given by All India Fair Price Shop Dealers' Federation (AIFPSDF). The strike might impact over 65 lakh beneficiaries covered under national and state food security schemes in Jharkhand, if it goes long, an office bearer of the dealer association said. General secretary of Jharkhand unit of Fair Price Shop Dealers Association (FPSDA) Sanjay Kundu told PTI that the 'Ration Bandh' call has been given in protest against the Central Government's failure to ensure a minimum monthly income guarantee for the dealers and some other issues. "The agitation has been called to press for various demands of the FPS dealers such as ensuring minimum monthly income guarantee of Rs 50,000 for dealers, implementing the recommendations of World Food Program and allowing distribution through e-PoS device by inserting aadhaar number of the cardholders in case of emergency," he said. Kundu sa

Large consumer goods companies have grown sales through sharp price rises in recent quarters, and many have suffered declines in volumes

Telangana Minister for IT and Industries K T Rama Rao on Monday inaugurated FMCG major ITC's Rs 450 crore state-of-the-art Integrated Food Manufacturing and Logistics Facility at Medak. The inauguration was done in the presence of Sanjiv Puri, Chairman and Managing Director, ITC Ltd, a press release form ITC said. Spread over nearly 59 acres of land, the food processing facility with a built up area of 6.5 lakh sq ft entails an initial investment outlay of Rs 450 crore which will create large scale livelihoods across sustainable agri-value chains. The future-ready facility, equipped with end-to-end digital infrastructure, will be producing ITC's world-class foods brands including Aashirvaad atta, Sunfeast biscuits, Bingo! chips and Yippee! Noodles among others, in phases, it said. Commenting on the launch of the facility, Sanjiv Puri said, "ITC has been strengthening its footprint in Telangana across all three sectors - agriculture, manufacturing and services. Encouraged by the ..

He officially joined the founders in 2018 and began by leading the store-level growth hacking to brand development and was later named the group's CMO

RBL will open the food chain across the country starting with major cities and travel hubs

They say some measures have spawned malpractices on the part of exporters, others have been partial to a certain section of traders

Higher scale will have multiple benefits

Starbucks President and CEO Kevin Johnson said Wednesday he will retire next month, and former CEO and company founder Howard Schultz will replace him on an interim basis.

CG Foods, maker of popular noodles Wai Wai, on Tuesday said it has signed a deal to acquire the Russia and CIS businesses of Spain-based GBfoods. The financial details of the transaction were not disclosed. A binding agreement has been signed with GBfoods, said a statement from CG Foods, part of the Nepal-based CG Corp. "GBfoods' business in Russia/CIS, under Gallina Blanca brand, is expected to change its ownership from GBfoods to CG Foods, owned by CG Corp Global, within the coming weeks," the company said. The acquisition will help CG Foods to grow its foothold in Europe and Commonwealth of Independent States (CIS) regions as well as diversify into culinary products and pastas. "CG Foods will also leverage the existing distribution strength of GBfoods in Russia & CIS to grow its globally renowned noodle brand WAI WAI," it said. GBfoods has a presence in Western Europe, along with Russia and CIS, Baltics and around 30 countries in Africa. CG Corp Global Chairman Binod K ...

US-based fast food chain KFC will continue to expand its restaurant network in India despite the coronavirus pandemic bringing structural changes in the business, believing the country to be a growth market in the coming years, according to a top company official. KFC India, which opened around 30 new restaurants last year during the peak of the COVID-19-induced disruptions, is looking at adding new outlets this year too as it looks to enhance access of the brand to its consumers. "Our intent is definitely to keep growing the brand. One of our biggest strategic pillars is what we call as access. We have to ensure that access to the brand continues to grow for the consumers, both physical and digital," KFC India Managing Director Samir Menon told PTI. Despite the COVID-19 disruptions, he said, "We actually have more restaurants now than we had in pre-COVID. During the course of the year, our franchisees have opened new restaurants. So we actually are a bigger business now than we wer

Organised players have been the biggest beneficiaries after the lockdowns were lifted