Annapurna Swadisht acquires majority stake in Andri Agro Foods
Strengthening soya-based food portfolio
Annapurna Swadisht acquires soya-based food manufacturer Andri Agro Foods
Annapurna Swadisht, a foods company, has moved to acquire a 75 pc stake in Andri Agro Foods for an estimated INR 45 million, in a deal valued at INR 150 million.
Annapurna Swadisht acquires soya-based food manufacturer Andri Agro Foods
Kolkata-based foods firm Annapurna Swadisht has entered into a share purchase agreement to acquire 75 pc of the equity share capital of Andri Agro Foods, another foods company based in West Bengal. In a filing to stock exchanges, Annapurna Swadisht says that upon completion of the transaction and transfer formalities, Andri Agro Foods will become a subsidiary of ASL,
The statement adds that the acquisition aligns with its strategy to scale its presence in the Indian and overseas soya-based products market. Andri Agro Foods manufactures a wide range of soya-based products, including soya chunks, granules, textured vegetable protein products, 3D pellets, vermicelli and pasta, along with other allied value-added agro-food products.
The acquired company operates a manufacturing facility at Raniganj in Asansol, West Bengal, with an annual capacity of 420,000 tonnes, supported by Italian and Japanese machinery. The company markets its products under the ‘So Best’ brand and has also undertaken job-work for established food brands such as Haldiram and Akash.
According to the statement, currently, Andri Agro Foods has a strong footprint in Eastern India through a network of nearly 200 distributors. The acquisition is expected to allow Annapurna Swadisht to leverage its wider distribution network to improve capacity utilisation, expand operations and enhance market reach.
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The statement adds that post-acquisition, ASL and AAFPL together are targeting a turnover of INR 500 million to INR 600 million at around 60 pc capacity utilisation of Andri Agro Foods. Annapurna Swadisht Limited reported consolidated revenues of INR 2,499 million in the first half of FY26.
It further states that in FY25, ASL had acquired Madhur Confectioners, strengthening its position in the confectionery segment and expanding its presence across key international markets including the UAE, Europe, the United Kingdom, Saudi Arabia and Africa.
“It has been our endeavour to strategically strengthen our product portfolio and diversify into newer geographies by adopting both organic and inorganic channels of growth. Acquisition of AAFPL will enable us to establish our presence in the soya-based products markets both in India and overseas,” says Shreeram Bagla, Chairman and Managing Director, Annapurna Swadisht.
“Besides, it will enable us to enter the groceries segment through bulk and premium namkeen products, while also opening opportunities for exports of the existing product portfolio along with namkeen and pellet products. We believe this acquisition will significantly strengthen our topline and bottomline moving forward,” adds Bagla.
