Agro Tech Foods, which is rebranding itself as Sundrop Brands, has announced its acquisition of Del Monte Foods’ Indian business from Bharti Enterprises in a deal valued at approximately ₹1,300 crore. Agro Tech Foods plans to issue around 1.33 crore shares at ₹975.5 per share to Bharti Enterprises, making Bharti the second-largest shareholder in the company.
The acquisition includes not only Del Monte’s operations in India but also an exclusive, perpetual license to use the Del Monte brand within the country. Agro Tech Foods aims to leverage Del Monte’s existing manufacturing and R&D facilities to strengthen its position in the processed foods sector. This move aligns with the company’s strategy to expand its product portfolio across various food categories