SAM & Co. advises Tata Consumer Products Limited in the acquisition of Kottaram Agro Foods Private Limited
Shardul Amarchand Mangaldas & Co. advised Tata Consumer Products Limited (TCPL) in the acquisition of Kottaram Agro Foods Private Limited, owner of the brand 'Soulfull'. The company has signed definitive agreements to acquire 100% of the equity share capital of Kottaram Agro Foods from existing shareholders, including Aavishkaar Bharat Fund (ABF) and Bennett Coleman and Company Limited (BCCL). The deal is valued at Rs. 156,00,00,000.
KAF launched the brand 'Soulfull' in 2013. The brand operates in the Health and Wellness focused food segment with a portfolio of millet-based products for kids and adults. It is one of the fastest growing brands in India's 'better for you' packaged foods market. The brand currently has a strong presence in select urban markets in South, West, and North India.
A Press Release by Tata Consumer Products Limited read, "This acquisition will allow TCPL to expand its product portfolio into the fast growing 'on the table' and 'on the go' categories and to participate in newer consumption occasions. There are also significant synergies possible with the existing business of TCPL in areas spanning distribution, procurement, and logistics. Additionally, the TATA name would further enhance the brand's credentials with consumers."
The transaction team was led by Abhishek Guha, Partner; Tanya Uppal, Principal Associate; Shashank Prabhakar, Principal Associate; Keegan Pavrey, Senior Associate and Vyoma Mehta, Associate.
The due diligence team was led by Abhishek Guha, Partner; Mukul Baveja, Partner; Kirti Mahapatra, Partner; Tanya Uppal, Principal Associate; Shashank Prabhakar, Principal Associate; Ekta Chandan, Senior Associate; Keegan Pavrey, Senior Associate; Vyoma Mehta, Associate; Purva Phadke, Associate; and Amrita Ghosh, Associate.
Mukul Baveja, Partner, advised on IP related aspects.