Acquisition · Commerce & Consumer Brands

ITC lifts Yoga Bar stake to 39% for ₹175 crore

What they do

Sproutlife Foods owns Yoga Bar, an online-first brand of nutrition bars, muesli and cereals

In May 2023 ITC paid ₹175 crore for more shares, taking its holding to 39.42% on a fully diluted basis

This was the first step of ITC's plan, announced that January, to own the whole company within three to four years

ITC picked up more ordinary shares plus a block of preference shares that must later convert into equity.
It paid ₹175 crore in total.
ITC's holding rose to 39.42% on a fully diluted basis.
ITC disclosed the deal in a BSE filing in May 2023.
It had signed a binding term sheet to buy the whole company in stages.

The purchase followed ITC's investments in Mylo and Mother Sparsh, two other online brands.
ITC shares hit a new high on the day of the news.
The full takeover was planned over three to four years.