LT Foods acquires 30 per cent strategic stake in Dutch-based speciality food player
On Wednesday, LT Foods Limited announced that it has acquired a 30 per cent stake in Leev.nu via its subsidiary, Nature Bio Foods BV, with an option to acquire another 21 per cent at the end of 5 years.
Leev.nu is a Netherlands-based organic speciality food company with a portfolio comprising breakfast bars, healthy snacks, baking range & gluten-free, low sugar products, etc. Furthermore, the company is expanding its product portfolio and venturing into an organic whole-grains category such as oats and flax seeds. Its products are available in both, retail and online stores.
Nature Bio Foods Limited (NBF), a subsidiary of LT Foods has established itself as a dependable organic product and ingredient supplier across the globe and the acquisition in Leev.nu is in line with long-term growth strategy of NBF. It will enable the company to reach consumers directly via the mainstream distribution strength of Leev. Currently, NBF manages the farm to the doors of EU industries and now would be contributing to the full chain from farm to fork.
On Wednesday, the stock of LT Foods closed at Rs 55.70 per share, up by 0.45 per cent or 0.25 per share. The 52-week high is recorded at Rs 63.50 while its 52-week low is Rs 13 on BSE.