Hindustan Foods Limited entered into a share purchase agreement to acquire 40% stake in ATC Beverages Private Limited for INR 14.2 million.

Hindustan Foods Limited (BSE:519126) entered into a share purchase agreement to acquire 40% stake in ATC Beverages Private Limited for INR 14.2 million on January 25, 2019. The consideration is paid in cash. For the year ended March 31, 2018, ATC Beverages reported turnover of INR 154.4 million. No governmental or prior regulatory approvals are required for the transaction. The Board of Directors of Hindustan Foods approved the transaction in the meeting held on January 25, 2019. The transaction is expected to be completed by end of February, 2019.