ITC acquires 24 Mantra Organic maker Sresta in Rs 472.5 crore cash deal

New Delhi: Multi-conglomerate ITC has completed the acquisition of Sresta Natural Bioproducts, which owns the '24 Mantra Organic brand' in an all-cash deal valued at Rs 472.50 crore.

This will help ITC to expand its play in the fast-growing organic food products segment.

“The company has completed the acquisition of 100% of the share capital of SNBPL on 13th June, 2025,” ITC said in a regulatory filing.

On the acquisition cost, ITC said it had an upfront consideration of Rs 400 crore on a cash-free debt-free basis and addition, consideration of up to Rs 72.50 crore, which is payable in the next 24 months.

In April ITC had informed it had signed a share purchase agreement with Sresta Natural Bioproducts Private Limited (SNBPL) to acquire 100% stake in the company.

This acquisition is "in line with the strategy to augment the company’s future-ready portfolio, the transaction is expected to fortify ITC’s presence and market standing in the high-growth organic products segment in both Indian and overseas market,” the Kolkata-headquartered firm said.

SNBPL's portfolio comprises a wide range of over 100 organic products, spanning branded grocery staples, spices and condiments, edible oils, and beverages, among others. Besides, it has a strong international presence with a deep connection with the Indian diaspora.

The domestic organic food products industry offers a "significant opportunity" for growth on the back of increasing health and environmental consciousness, a rise in household incomes and new-age distribution channels, ITC said, adding that SNBPL is a pioneer and leading player in the organic packaged staples category.

SNBPL has two wholly-owned subsidiaries -- Fyve Elements LLC, USA and Sresta Global FZE, UAE.

SNBPL, incorporated in March 2004, recorded a revenue of Rs 306.1 crore in FY 2023-24. Over the years, it has built a strong network of approximately 27,500 farmers and 1.4 lakh acres of certified organic land across 71 clusters in 10 states.