StopDownOpen the app

Acquisition · Commerce & Consumer Brands

ITC agrees to buy Yoga Bar maker in stages

By ·

Yoga Bar logo
Date
Company
Yoga Bar
What it does
Yoga Bar healthy food brand
Kind
Acquisition
Based in
Bengaluru
Founded
2015
Sector
Commerce & Consumer Brands

What they do

Sproutlife Foods makes Yoga Bar nutrition bars, muesli, oats and cereals, selling mostly online with growing store presence

What happened

In January 2023 ITC said it would buy all of the company over three to four years, in tranches

Why it matters

The deal gave ITC a bigger foothold in healthy foods; Sproutlife had sales of ₹68 crore in FY22

The details

  • ITC announced on 17 January 2023 that it would buy 100% of Sproutlife Foods.
  • The purchase was to happen in tranches over three to four years.
  • Sproutlife sells food under the Yoga Bar brand.
  • ITC said the move fits its ITC Next plan for future-ready products.
  • The deal price for the full stake was not disclosed.

The bigger picture

  • ITC wanted a larger share of India's nutrition-led healthy foods market, which it put at ₹45,000 crore.
  • Big consumer firms such as Marico and HUL were also buying online-first brands.
  • Yoga Bar led in nutrition bars and was strong in muesli.

About the business

  • Yoga Bar sells nutrition bars, muesli, oats and cereals.
  • Most sales came online, with a growing offline presence.
  • Sproutlife recorded ₹68 crore in sales in 2021-22.

What happens next

  • ITC would raise its stake step by step over three to four years.

The deal

Type
acquisition

Investors

  • ITC (buyer) — Indian consumer goods group.

Founders

  • Suhasini Sampath, Co-founder
  • Anindita Sampath, Co-founder

Other articles talking about it

Read it as a card in the app

More on Yoga Bar

Everything on Yoga Bar →