Deal Street

May 28, 2020

ITC Limited engages Cyril Amarchand Mangaldas in the 100% stake acquisition in Sunrise Foods Private Limited

[ by Legal Era News Network ]


Cyril Amarchand Mangaldas acted as the transaction counsel to ITC Limited (ITC) in relation to its acquisition of 100% stake in Sunrise Foods Private Limited (Sunrise Foods). Sunrise Foods is a leading manufacturer of spices, with strong presence in eastern India, and sells its product range under the brand “Sunrise”.

The M&A, Real Estate and Employment Law Teams at Cyril Amarchand Mangaldas advised on the Transaction.

The Transaction Team was led by Ramgovind Kuruppath, Partner; with support from Megha Krishnamurthi, Associate; Surabhi Saboo, Associate; and Smriti Tripathi, Associate. 

Corporate Due Diligence and Advisory was led by Ramgovind Kuruppath, Partner, with support from Megha Krishnamurthi,Associate; Smriti Tripathi; Associate, Anushka Jain, Associate; and Surabhi Saboo, Associate.

Real Estate Due Diligence and Advisory was led by Ashish Jain, Partner; with support and assistance from Prayaas Sharma,Associate; and S. Siddhant, Associate.

Employment Law Due Diligence and Advisory was led by Richa Mohanty Rao, Partner with support from Anna Thomas,Consultant; Akshat Sahajpal, Associate; and Vani Sharma, Associate.

Corporate Secretarial Due Diligence team included Vidhi Doshi, Senior Manager - Corporate Secretarial Services; Mihir Sangani, Executive - Corporate Secretarial Services; Charmi Sanghvi, Executive - Corporate Secretarial Services; and Rasika Bharadkar, Executive - Corporate Secretarial Services.

This is a significant transaction in the FMCG space and is aligned with ITC’s strategy to rapidly scale up its FMCG Businesses in a profitable manner, leveraging its institutional strengths viz. deep consumer insight, a deep and wide distribution network, agri-commodity sourcing expertise, cuisine knowledge, strong rural linkages and packaging know-how.

Other advisors to the Transaction included JM Financial Limited. The Share Purchase Agreement was signed on May 23, 2020.

Related Post

latest News

  • HSIL sues ICICI Securities in Delhi HC for report saying Jaquar became top brand

    Leading sanitaryware brand, HSIL Limited, has a filed a case against prominent brokerage ICICI Securities for a “defamatory and disparaging” resea...

    Read More
  • Schools entitled to charge tuition fee: Punjab and Haryana HC

    The Punjab and Haryana High Court has said that schools were entitled to charge tuition fees despite offering only online classes amid the lockdown, b...

    Read More
  • CJI: Jacket, gown to be dispensed with to prevent corona spread

    Hours after Chief Justice of India S.A. Bobde suggested putting away jackets and long gowns for judges and lawyers during hearings via video conferenc...

    Read More