While ITC, via its Aashirvaad brand, operates in Andhra Pradesh and Telangana, Sunrise Foods, which sells its products under the Sunrise brand, has an extensive presence across east India, where it is the market leader, and also operates in Uttar Pradesh, Delhi National Capital Region, Rajasthan, and Bengaluru. It also sells its products in Bangladesh and Nepal.
Sunrise’s plants are located in Kolkata, Agra, Bikaner, and Jaipur. “Over the years, the brand (Sunrise) has built a loyal consumer franchise, anchored on a differentiated product portfolio tailored to regional tastes and preferences, both in the basic and blended spice segments,” ITC said.
According to ITC, the proposed acquisition is aligned with its strategy to rapidly scale up its FMCG
businesses in a profitable manner, leveraging consumer insights, the distribution network, agri-commodity sourcing, cuisine knowledge, rural linkages, and packaging know-how. The major acquisition move comes a year after Sanjiv Puri became chairman of the company. Mayank Bhardwaj, CEO & MD of Sunrise, said: “We are confident that in passing our legacy to ITC, Sunrise will achieve even greater heights of success.”