DSM Fresh Foods to acquire majority stake in Avyom Foodtech
India, Jan. 5 -- DSM Fresh Foods announced that its Board of Directors has approved the acquisition of a 51% controlling stake in Avyom Foodtech (AFPL), marking the company's formal entry into the ready food solutions segment, including ready-to-eat (RTE) and ready-to-cook (RTC) categories, along with expansion into overseas export markets.The acquisition will be carried out through a cash infusion of approximately Rs 7.5 crore by DSM Fresh Foods by subscribing the shares of Avyom Foodtech through preferential allotment, resulting in the acquisition of a 51% equity stake in AFPL. In addition, the Company may explore the induction of external strategic investor(s) through the issuance of fresh shares in AFPL, subject to approval by the Board...
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