ITC To Acquire Yoga Bar The FMCG giant will acquire 100 per cent of Sproutlife Foods Private Limited (SFPL) over a period of three to four years
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ITC Limited announced its plans to acquire D2C health food brand Yoga Bar, a healthy snack startup, based in Bengaluru. The FMCG giant will acquire 100 per cent of Sproutlife Foods Private Limited (SFPL) over a period of three to four years.
Yoga Bar's product portfolio includes nutrition bars, muesli, oats and cereals. The brand is also expanding its offline presence.
"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," said Hemant Malik, divisional chief executive, foods division, ITC Limited.
"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 INR 100 crore. We are delighted that ITC and Yoga Bar will work together to build one of the largest brands in the healthy foods space," said Suhasini Sampath Kumar and Anindita Sampath Kumar, co-founders, Yoga Bar, in a joint statement.
The acquisition will enable ITC to augment its future-ready portfolio and enhance market presence in the good for you space. 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 Sanjiv Puri.
