Annapurna Swadisht (ASL), an FMCG company, is set to acquire a majority stake in Andri Agro Foods (AAFPL) at an estimated sum of ₹4.50 crore. The total enterprise value of the transaction is ₹15 crore.
The Kolkata-based packaged food manufacturing company, ASL, has entered into a Share Purchase Agreement with the shareholders of AAFPL for the acquisition of 75% of the equity share capital in the company.
Andri Agro Foods manufactures a wide range of soya-based food products, including soya chunks, 3D pellets, soya granules, textured vegetable protein (TVP) products and allied value-added agro-food products, among others under the ‘So Best’ brand.
Upon completion of the proposed acquisition and transfer formalities, Andri Agro Foods will become a subsidiary of Annapurna Swadisht.
The acquisition will enable ASL to establish its presence in the Indian as well as overseas soya-based products market.
Shreeram Bagla, Chairman and Managing Director, Annapurna Swadisht, said, “It has been our endeavour to strategically strengthen our product portfolio and diversify into newer geographies by adopting both organic and inorganic channels of growth. Acquisition of AAFPL will enable us to establish our presence in the soya-based products markets both in India and overseas. Besides, it will enable us to enter the groceries segment through bulk and premium namkeen products, while also opening opportunities for exports of the existing product portfolio, along with namkeen and pellet products. We believe this acquisition will significantly strengthen our topline and bottom line moving forward.”
Andri Agro Foods, which has a unit located at Raniganj, Asansol, West Bengal, has an existing annual manufacturing capacity of 4,20,000 tonnes of soya chunks, vermicelli, pasta and 3D pellets supported by Italian and Japanese machinery. It markets its products under the brand ‘So Best’ and has undertaken job-work assignments for established brands such as Haldiram and Akash, delivering high-quality soya-based products.
The company currently operates in Eastern India through a network of close to 200 distributors. The acquisition will enable Annapurna to leverage its existing distribution network to expand AAFPL’s operations, improve capacity utilization and enhance market reach.
Together, ASL and AAFPL are hopeful of achieving a turnover of ₹50–60 crore at around 60 per cent capacity utilization of AAFPL. ASL had reported consolidated revenues of Rs. 249.90 crore in H1FY26.
In FY2025, Annapurna Swadisht acquired Madhur Confectioners, strengthening its positioning in the confectionary segment and expanding its presence across key international markets, such as the UAE, Europe, UK, Saudi Arabia and Africa, among others.
