ITC to buy 'Yoga Bar' to strengthen presence in health foods space

ITC signs binding term sheet to buy 100% share capital of Sproutlife Foods

Diversified conglomerate, ITC, said on Tuesday, it would acquire 100 per cent of Sproutlife Foods Private Limited, makers of Yoga Bar healthy foods.

The company has signed a binding term sheet to acquire 100 per cent of the share capital (on a fully diluted basis) of Sproutlife in tranches, expected to be completed over a period of 3 to 4 years.

In an exchange filing, ITC said that acquisition of 47.5 per cent was on a fully diluted basis through primary subscription and secondary purchases. An initial investment of Rs 175 crore would be made for acquisition of 39.4 per