ITC to Acquire Yoga Bar’s Gluten Free Oats, Peanut Butter, Muesli Portfolio
Tasty Investment | ITC to Acquire Yoga Bar in Bid to Fortify its Gluten Free Healthy Foods Portfolio
BENGALURU [BANGALORE, INDIA] – Yoga Bar, the nutrition-led food company famous for its yummy range of healthy snack options, including Protein Bars, Muesli, Peanut Butter, and Gluten Free Oats, is being acquired by ITC, one of India’s foremost private sector companies and a diversified conglomerate with businesses spanning Fast Moving Consumer Goods, Hotels, Paperboards and Packaging, Agri Business and Information Technology.
- With the proposed strategic investment in M/s. Sproutlife Foods Private Limited (SFPL), a Direct-to-Consumer (D2C) Start-Up engaged in the manufacture and sale of innovative products catering to health-conscious consumers under the clean label, new-age digital-first brand ‘Yoga Bar’, ITC will be fortifying its presence in the Rs 45,000 crore, fast growing, Nutrition-led Healthy Gluten Free Foods space.
- ITC will acquire 100% of SFPL over a period of 3 to 4 years. 47.5% stake in SFPL will be acquired, in tranches, by March 31, 2025; and the balance stake will be acquired, basis pre-defined valuation criteria, subject to other conditions agreed to in the binding documents.
- Anchored on the codes of ‘All Natural and No Artificial Ingredients’, Yoga Bar today has built a market winning product portfolio including Nutrition Bars, Muesli, Oats and Cereals.
- Yoga Bar currently has a high salience of on-line sales (D2C, e-Commerce platforms etc.) with growing presence in offline stores. In a relatively short span of time, Yoga Bar has established itself as a leader in the Bars Segment and has built a strong market position in the Muesli Segment.
- The acquisition will enable ITC to augment its future-ready portfolio and enhance market presence in the ‘Good for You’ space which currently includes Aashirvaad Multi-Grain Atta, Aashirvaad Nature’s Super Foods, Farmlite Range of Biscuits, Sunfeast Protein Shake, B Natural Nutrilite ABC Beverage, among others.
- Yoga Bar is expected to be rapidly scaled up, leveraging ITC’s enterprise strengths in areas such as sales & distribution, sourcing, product development, and digital.
- This investment is in line with the ‘ITC Next’ strategy articulated by Chairman Mr.SanjivPuri that focuses also on building a future-ready portfolio of products that serve evolving consumer needs.
Game-Changing ITC Acquisition of Yoga Bar's Portfolio of Gluten-Free Oats, Peanut Butter, Muesli, Protein Bars
- Commenting on this acquisition, Mr Hemant Malik, Divisional Chief Executive, Foods Division, ITC Limited stated, “We believe that this investment is an exciting opportunity that aligns with ITC’s Foods Business’ aspiration to build a formidable portfolio in the nutrition-led healthy foods space. We look forward to scaling the Yoga Bar brand offering superior and healthy consumer choices. Within a short span of time, Yoga Bar has established itself as a leading brand in the healthy foods space, driven by impactful market positioning and a range of innovative products.”
- Commenting on this transaction, Ms Suhasini Sampath Kumar and Ms Anindita Sampath Kumar, co-founders, said, “We are delighted to join hands with ITC in Yoga Bar’s next phase of growth. ITC has a long history of building world-class brands, leveraging its core competencies which encompass superior understanding of the consumer, strong backward linkages with agri supply chain and a deep and wide distribution network. We are confident that this partnership will add to Yoga Bar’s competitive advantage and take it to the next level from the current Annualised Run Rate of over Rs.100 crores. We are delighted that ITC and Yoga Bar will work together to build one of the largest brands in the healthy foods space.”
Yoga Bar describes itself as the “#1 Destination for Healthy Breakfast & Snack Options”.
- It is also “India’s most loved nutrition-led food company.” On offer are Muesli, Protein Bars, Energy Bars, Peanut Butters, and Gluten Free Oats that are “friggin’ delicious”, and are all-natural and have no artificial preservatives.
ITC is one of India’s foremost private sector companies and a diversified conglomerate with businesses spanning Fast Moving Consumer Goods, Hotels, Paperboards and Packaging, Agri Business and Information Technology.
- The Company is acknowledged as one of India’s most valuable business corporations with a Gross sales value of INR 90,104 crore and Net Profit of INR 15,058 crore (as on 31.03.2022). ITC was ranked as India’s most admired company, according to a survey conducted by Fortune India, in association with Hay Group.
- Multiple Drivers of Growth: ITC is the country’s leading FMCG marketer, the clear market leader in the Indian Paperboard and Packaging industry, a globally acknowledged pioneer in farmer empowerment through its wide-reaching Agri Business, a pre-eminent hotel chain in India that is a trailblazer in ‘Responsible Luxury’. ITC’s wholly-owned subsidiary, ITC Infotech, is a specialized global digital solutions provider.
- Over the last decade, ITC’s new Consumer Goods Businesses have established a vibrant portfolio of 25 world- class Indian brands that create and retain value in India.
- ITC’s world-class FMCG brands include:
- Aashirvaad
- Sunfeast
- Yippee!
- Bingo!
- B Natural
- ITC Master Chef
- Fabelle
- Sunbean
- Fiama
- Vivel
- Savlon
- Classmate
- Paperkraft
- Mangaldeep
- ITC’s world class FMCG brands have garnered encouraging consumer franchise within a short span of time. While several of these brands are market leaders in their segments, others are making appreciable progress.
- Leveraging Institutional Strengths: The competitiveness of ITC’s diverse businesses rest on the strong foundations of institutional strengths derived from its deep consumer insights, cutting-edge Research & Development, differentiated product development capacity, brand-building capability, world-class manufacturing infrastructure, extensive rural linkages, efficient trade marketing and distribution network and dedicated human resources. ITC’s ability to leverage internal synergies residing across its diverse businesses lends a unique source of competitive advantage to its products and services.
ITC's world class FMCG brands | Nation First
- Nation First: ITC’s ‘Nation First: Sab SaathBadhein’ philosophy underlines its core belief in building a globally competitive and profitable Indian enterprise that makes an exemplary contribution to creating larger societal value.
- As a company deeply rooted in Indian soil, ITC is inspired by the opportunity to serve larger national priorities. A global exemplar in Sustainability, ITC is the only enterprise in the world of comparable dimensions to be carbon-positive, water-positive and solid waste recycling positive for over a decade now.
- ITC has created over 6 million sustainable livelihoods. Nearly 42% of the total energy consumed in ITC is from renewable sources. ITC’s premium luxury hotels have the unique distinction of being LEED Platinum certified.
- ITC’s Well-being Out of Waste programme (WOW) that comprehensively addresses the problem of solid waste management, of which plastic waste is a significant component, provides an end-to-end sustainable and scalable solution that has reached out to over 1.8 crores citizens in the country.
ITC is Climate-smart
- Together with farmers and local communities, ITC has implemented largescale interventions in climate-smart and sustainable agriculture.
- Towards this, ITC has launched an integrated programme titled ‘BaarehMahineHariyali’ (maximising farm utilisation over 12 months of the year) to give a new dimension to the complex task of multiplying farmer incomes.
- ITC is investing in India’s future by building world-class consumer goods factories and iconic hospitality assets that will contribute to the country’s competitive capacity. These investment projects underpin the Company’s support to the Government’s “Make in India” vision.
#YogaBar #HealthyFoods #HealthySnackOptions #NutritionFoods #Muesli #D2C #GlutenFreeOats #DirectToConsumer #PeanutButter #ITC #ProteinBars
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