India’s LT Foods is planning to set up a new rice processing facility in its domestic market. In a stock exchange filing, the owner of the Royal and Daawat basmati brands said the new site will be located in Raichur, Karnataka. The plant, with an investment outlay of Rs60m ($670,215), is being designed with an initial annual capacity of 30,000 metric tonnes. It will process regional varieties such as sona masoori, kolam and lachkari rice. Commercial operations at the site are scheduled to begin in Feb ...

Core Insights - LT Foods has agreed to acquire 100% of Global Green Europe, a Hungarian producer of shelf-stable fruits and vegetables, for a total of €7.8 million ($8.5 million) including an earn-out component [1][4] Group 1: Acquisition Details - The acquisition price consists of an initial payment of €6 million ($6.9 million) at closing, with an additional €1.8 million to be paid over the next two years [1] - The deal will also involve LT Foods assuming Global Green's existing debt, with an enterprise value of approximately €25 million [4] Group 2: Strategic Rationale - The acquisition is aimed at expanding LT Foods' product portfolio and global footprint, particularly entering the processed canned food market [2] - The deal is expected to leverage synergies with LT Foods' existing operations in Europe, enhancing competitiveness in the region [2][3] Group 3: Operational Impact - The addition of Global Green Europe will establish a third manufacturing hub for LT Foods in Europe, strengthening its presence in central and southern Europe [3] - Global Green's operations include two plants in Hungary, producing a variety of canned products and supplying over 30 countries across Europe [4] Group 4: Financial Performance - Global Green reported a turnover of €40.8 million in 2022, €37.0 million in 2023, and €40.3 million in 2024 [5] - For the financial year ending March 2025, LT Foods reported total revenue of ₹87.70 billion ($987.6 million), an increase of 12% year-on-year, with EBITDA rising 8% to ₹10.67 billion [5]