Allana Group, an exporter of processed food products and agro commodities, has picked up a minority 1% stake in LT Foods, a consumer products company. This comes at an investment of INR 20 crore, the company said in a statement. Both companies plan to use their synergies and technology transfer to expand LT Foods’ consumer products business to focus on value-added and impulse products.
Allana Group distributes premium brands such as London Dairy Ice Cream, Sunny Oil, and Pristine Bakery. It is among India’s major exporters of frozen and chilled meat, processed and frozen fruit and vegetable products, coffee, spices and cereals to over 85 countries.
The group is making several strategic investments in both public and private companies they can partner with. Its integrated processing units and cold storages along with state-of-the art machinery have helped the company evolve into a multidimensional and multiproduct conglomerate.
Fauzan Alavi, Director of Allanasons said, “Both companies have underlying strengths in distribution, production and marketing of food products. We look forward to working with LT Foods and synergise our strengths to provide our products in the Indian market and also explore export markets together to capitalise on our strengths while maintaining the highest standards of quality in procurement, manufacturing and distribution.”
