MTR Foods owner Orkla to pay Rs 2,000 cr for control of Eastern Condiments

Norwegian conglomerate Orkla, which owns MTR Foods, to buy 67.8 per cent stake in Kerala's Eastern Condiments

Norwegian conglomerate Orkla which owns MTR Foods has entered an agreement to buy a majority stake in Kerala’s largest spice player Eastern Condiments for Rs 2,000 crore with an aim to double up its spice presence in India.

The conglomerate had acquired MTR Foods in 2007, which already has a strong presence in the spice market and a current turnover of Rs 920 crore.

Orkla, through its wholly owned subsidiary MTR Foods, has signed agreements to purchase a 41.8 per cent ownership stake in Eastern from members of the Meeran family and to acquire the entire ownership stake held by