What did ITC do to acquire natural league bioproducts, the promoters of the Organic Food Brand 24 Mantra? A brand with a good retreat between the consumer of organic products; a bouquet or more than 100 products; a national and export market of 10,000 million attractive rupees for organic products; Maintain relevant organic certifications; A great presence in the US market; And a brand that resonates with its brand strategy, these are the factors that led ITC to acquire the company based in Hyderabad.
On Thursday, ITC announced his acquisition or 24 mantra per ₹ 472 million rupees. Raj Seelam, founder of the target company, will help in the transition and continue with the company for two years. The acquisition is expected to be completed in the first quarter of 2025-26.
“There is a growing consumer preference for organic or natural foods. The reports nail domestic demand and export potential to ₹ 10,000 million rupees. This segment is growing rapidly,” said ITC, explaining the justification of the acquisition of 24 mantra.
The company felt that there was a great space for growth in this space. The penetration of organic foods in the country is very low in just 0.3 percent. Another important factor behind the acquisition of ITC of 24 mantra was its strong presence in the diaspora markets, such as the United States, which represented almost half or its rotation of ₹ 300 million rupees. The brand had built a distribution network in more than 900 ethnic stores and was a preferred organic choice among consuming women.
Hemant Malik, director of WHOETIME of ITC LTD, said they trust that the acquisition will strengthen the presence of ITC and the market position in the rapidly growing organic products sector, both nationally and internationally.
Interestingly, 24 Mantra also has a network of backend farmers well treated as ITC has done, with an aggregate of 1.4 Lakh organic land acres certified in 10 states.
In an acquisition spree
ITC seems to be in an acquisition spree in the last 11 years as part of the strategy of the next ITC. As the acquisition of 24 mantra announced on Thursday, he also announced the acquisition of the participation of 73.5 percent in Mothersh Baby Baby Care, which is operating in the premium space for Ayurvedic and Natural Baby Care. Bought 26.5 percent at Mother Sparsh in 2021.
Earlier this year, Prasuma-A Frozen & Ready to Cook Foods Company acquired that specializes in oriental cuisine and sells a range or around 170 products. In 2023, Sproutlife Foods PVT acquired, the product manufacturer of the Yoga bar brand.
While acquired Sunrise Foods in 2020, she bought ‘Nimyle’ rank cleaners or Arpita Agro Products Ltd herbs, which marked its entry into the home care category.
The other two acquisitions are Savlon (2015) and B natural of Balan Natural Foods.
Posted on April 18, 2025