India, Feb. 7 -- With an eye on expanding its D2C play, FMCG giant ITC has signed definitive agreements to acquire 100% stake in D2C meat delivery startup Meatigo's parent.

In an exchange filing, ITC said that the deal will also see the FMCG company take over parent Prasuma's other brands including frozen foods vertical "Prasuma Momos" and cloud kitchen arm "Prasuma Momo Kitchen".

At the outset, ITC will acquire 43.8% equity stake in frozen food entity Ample Foods Private Limited (AFPL) in lieu of an initial investment of nearly INR 131 Cr through primary subscription and secondary purchases. This is expected to close by March 2025.

Thereafter, ITC will increase its shareholding in the company to 62.5% by April 2027 via secondary purch...