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 Leev.nu 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.