ConAgra Foods has become the majority owner of Indian food company ATFL, increasing its ownership of shares to more than 50%, through the purchase of existing shares from a third party.
Gary Rodkin, CEO, ConAgra Foods, said: “ConAgra Foods has enjoyed a strong partnership with Agro Tech Foods, dating back to 1997, and we believe strongly in its business model and leadership team. Expanding our International business is a key part of our strategic plan, and India represents an attractive growth market for ConAgra Foods. We will continue to work with Agro Tech’s management team to expand its business and our investment in this important region.”
Agro Tech Foods is a public limited company that markets food and food ingredients to consumers and institutional customers in India. The company’s products include Sundrop branded edible oils, shelf stable pudding and peanut butter, Crystal branded sunflower oil, Healthy World branded dried green peas, and, based on a license from ConAgra Foods, ACT II branded popcorn.
Source: ConAgra Foods
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