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Tata Consumer Products to buy Fabindia owned Organic India for Rs 1,900 cr
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Tata Consumer Products to buy Fabindia owned Organic India for Rs 1,900 cr

| @indiablooms | 13 Jan 2024, 01:55 am

Mumbai: Tata Consumer Products Friday announced its plans to acquire a stake of up to 100 percent in Organic India, a business owned by Fabindia.

Organic India specializes in selling tea, infusions, herbal supplements, and packaged foods.

The proposed acquisition is valued at Rs 1,900 crore and will be an all-cash transaction.

"The Board of Directors approved the acquisition of up to 100 percent of the equity share capital of Organic India Private Limited. The company, thereafter, has entered into a share purchase agreement (SPA) with Fabindia Limited to acquire up to 100 percent of the company’s equity share capital,” Tata Consumer Products  said in an exchange filing.

The announcement about the acquisition of Organic India followed closely on the heels of Tata Consumer Products' earlier announcement of its first acquisition of the day.

In the announcement also made on January 12, the company revealed its plan to acquire a 100 percent stake in Capital Foods, known for marketing products under the Ching’s Secret and Smith & Jones brands, in an all-cash deal valued at Rs 5,100 crore.

“This transaction aligns well with Tata Consumer’s overall strategic objectives and presents exciting market opportunities in the rapidly growing Health & Wellness segment,” said Sunil D’Souza, MD & CEO, Tata Consumer Products.

Organic India is a brand with a global presence spanning more than 48 countries, with a significant presence in both India and the USA.

The brand's product portfolio includes premium and high-growth categories, centering on sustainable living.

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