ITC to acquire 100% shares of startup 'Sproutlife Foods' over 3-4 years

Sproutlife Foods Private Limited is a startup engaged in the manufacturing and sale of food products under the trademark 'Yoga Bar'

FMCG major ITC on Tuesday announced that it will acquire 100 per cent shares of the startup Sproutlife Foods Private Limited (SFPL). The startup will be acquired by ITC over a time period of about three to four years from the execution of the transaction documents, the company said in an exchange filing.

According to the statement, Sproutlife produces and markets food items under the trade name "Yoga Bar." With a strong emphasis on online sales (D2C, e-commerce platforms, etc.) and a rising presence in physical stores, Yoga Bar is positioned as a digital-first brand. Yoga Bar's FY22 turnover was