PE players, FMCG companies betting on branded spices, condiments market

Private equity (PE) players and fast moving consumer goods (FMCG) companies are increasingly betting on the branded spices and condiments market, negotiating with incumbents in the category to either buy them outright or pick up controlling stake. Earlier this week, hotels-to-cigarette major ITC announced it had signed a share purchase agreement with Sunrise Foods to fully acquire the firm in a deal valued at Rs 2,000 crore.   ITC, which sells branded spices under the Aashirvaad brand, had said the deal was aligned with its strategy to “rapidly scale up its FMCG business.....

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