Vadilal Industries subsidiary buys 100% stake in US-based Krishna Krupa Corp

Vadilal Industries USA, a wholly owned subsidiary of Vadilal Industries, has signed a stock purchase agreement for subscription of 100% voting rights of Krishna Krupa Corporation, USA (KKC).

KKC is a corporation organized under the General Corporation Law of the State of Illinois, USA. It operates an ice creams parlour in the state of Illinois, USA.

The acquisition of KKC will provide Vadilal USA with ready platform to understand the parlour business operations in USA. Key learnings from KKC operations will help in preparation of a successful business plan for a nationwide parlour business.

The cash consideration for acquisition is $250,000. The acquisition will be completed by 30 September 2022.

KKC had total revenue of $89,000 during the year 2021, $73,000 during the year 2020 and $65,000 during the year 2019.

Vadilal Industries is engaged in the business of manufacturing ice-cream, flavored milk, frozen dessert, processed foods, other dairy products.

On consolidated basis, the company's net profit rose 31.1% to Rs 21.69 crore on a 26.3% increase in net sales to Rs 212.86 crore in Q4 FY22 over Q4 FY21.

Shares of Vadilal Industries were down 5.11% at Rs 1,754.30 on the BSE.

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