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Mumbai, Nov. 9

Temptation Foods Ltd, an exporter of processed fruits and vegetables, has acquired the entire business of Everfresh from Chambal Fertilisers and Chemicals Ltd for an undisclosed amount. One of the biggest domestic brands in the frozen fruits and vegetables segment, Everfresh had a turnover of Rs 20 crore in 2007. Temptation Foods Ltd will fund the acquisition from the amount raised via its recently concluded QIP issue. Mr Vinit Kumar, Chairman and Managing Director, Temptation Foods Ltd, said: “We welcome the Everfresh employees and management team to Temptation Foods Ltd. This acquisition ties in with our growth plans, which is strong brands and a balance between domestic and export business. The Everfresh acquisition will also give us a robust pan-Indian sales and distribution network. We will look at expanding the breadth and depth of the Everfresh brand and also look at exploring export opportunities.”

— Our Bureau

More Stories on : Mergers & Acquisitions | Horticulture/Fruits & Vegetables

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