India, Feb. 20 -- Bengaluru's iconic MTR Foods is reportedly in advanced discussions to be acquired by ITC Ltd, according to a report by The Mint. This move is seen as ITC's strategic effort to strengthen its presence in the South Indian food market by bringing a well-established brand under its umbrella.

In addition to MTR Foods, ITC is also eyeing the acquisition of Eastern Foods, a leading spice manufacturer. Both MTR and Eastern Foods have a strong foothold in South Indian states such as Karnataka, Andhra Pradesh, Tamil Nadu, and Kerala. If the deal materializes, it would be a significant milestone for ITC in expanding its reach nationwide.

MTR, which was founded in 1924 by Yagnanarayana Maiya, has been a hallmark of authentic South...