Allana Group picks up minority stake in LT Foods

Allana Group picks up minority stake in LT Foods

The Allana Group, which exports processed food products and agro commodities and distributes London Dairy ice-cream and Pristine Bakery, has picked up one per cent minority stake in packaged consumer products company on an investment of Rs 20 crore.

Announcing the acquisition, the group said that both companies have plans to use their synergies and technology transfer to expand LT’s consumer products business to focus on value-added and impulse products.

“The Allana Group is India’s largest exporter of frozen and chilled meat, processed and frozen fruit and vegetable products, coffee, spices and cereals to over 85 countries. The group is making several strategic investments in both public and private companies they can partner with,” it said in a statement.

Allana Group director FauzanAlavi said: “Both companies have underlying strengths in distribution, production and marketing of food products. This will give the alliance an edge.”

LT Foods, which sells rice brands Daawat, Royal and Devayya, had acquired 30% stake in of the Netherlands through its subsidiary Nature Bio Foods BV last year, with an option to acquire a further 21% at the end of five years.

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