Mumbai, Jan 12: Tata Consumer Products on Friday said that it was acquiring Mumbai-based Capital Foods, which makes the Ching’s Secret and Smith & Jones brands, for an enterprise value of Rs 5,100 crore. The company said that it had entered into a share purchase deal and shareholders agreement to acquire the firm in an all-cash deal.
Consumer has also acquired Organic India, promoted by Fabindia, for an enterprise value of Rs1,900 crore.
The transaction with Capital Foods, on the other hand, values the firm at 6.5-6.8 times its FY24 sales which is estimated at Rs 750-770 crore.
Sales of Capital Foods in FY23 stood at Rs900 crore, which was close to double its FY22 sales of Rs 580 crore.
