Prataap Snacks Acquires Majority Stake in Gujarat-based Snacks Maker
The parent company of Yellow Diamond chips called Prataap Snacks Ltd has reportedly announced to acquire a majority stake in Avadh Snacks Pvt Ltd., a Gujarat-based snacks manufacturer.
The advisory source behind Prataap Snacks on this transaction was Intensive Fiscal Services Pvt Ltd.
Prataap Snacks is a Mumbai-listed company and has claimed that it is going to buy out 80% stake in Avadh Snacks. The deal will be done through a combination of primary and secondary share purchases. The amount of the acquisition is worth Rs 148 crore ($21 million).
"Our acquisition of Avadh will help us accelerate our growth and deepen our presence in the key market of Gujarat," said Amit Kumat, chief executive at Prataap Snacks.
Avadh Snacks was established in 2010 and the company’s line of products ...