ITC to acquire a 100 per cent equity in Sunrise Foods Private Limited.

ITC Limited

ITC has entered into a share purchase agreement to acquire a 100 per cent equity in Sunrise Foods Private Limited.

Consumer goods major ITC has entered into a share purchase agreement to acquire a 100 per cent equity in Sunrise Foods Private Limited, a company primarily engaged in the business of spices under the trademark "Sunrise".

In a regulatory filing on Sunday, ITC said the proposed acquisition is aligned with its strategy to rapidly scale up its FMCG businesses. The deal is subject to the fulfillment of terms and conditions, ITC said.

About ITC :

ITC Limited is an Indian multinational conglomerate company headquartered in Kolkata, West Bengal.

Established in 1910 as the Imperial Tobacco Company of India Limited, the company was renamed as the India Tobacco Company Limited in 1970 and later to I.T.C. Limited in 1974. The Company now stands rechristened to ITC Limited, where 'ITC' is today no longer an acronym or an initialised form.

The company completed 100 years in 2010 and as of 2012–13, had an annual turnover of US$8.31 billion and a market capitalisation of US$52 billion.

It employs over 30,000 people at more than 60 locations across India.

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