Kochi: TATA Consumer Products has acquired Kottaram Agro Foods (KAF), a Bengaluru based start-up of Kerala based Prasanth Parameswaran. TATA is buying the Start Up for Rs. 155.8 crores.
Both the companies have signed the contract in connection with the acquisition. It is reported that the acquisition procedures will be completed by March.
Kottaram Agro Foods owns the brand ‘soulfull’, which was started in 2013. KAF produces healthy food items using indigenous and small crops. Rasika Prasanth, KK Narayanan and Amith Sebastian are the co-founders of this company along with Prasanth Parameswaran.
KAF has an active presence in the healthy snacks market including millet based breakfast cereals, light food items such as Ragi bites, Millet muesli among others. The company had a turnover of Rs 39.38 crores in 2020 alone.
Prasanth has 43 percent of the company’s shares. He is a member of Kottaram family in Alappuzha district. He is also a member of MS Swaminathan’s family, who pioneered Green Revolution in the country.
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