Agro Tech Foods Limited (ATFL), a leading player in India’s food and edible oils industry, announced today its acquisition of 100% of Del Monte Foods Private Limited (DMFPL), subject to regulatory approvals. The move expands ATFL’s product portfolio and marks a significant step in its growth strategy. In line with the acquisition, ATFL plans to rebrand as Sundrop Brands to reflect its evolving vision.
DMFPL is a joint venture with Bharti holding 59.29% and Del Monte Pacific Limited (DMPL) owning 40.71%. Both Bharti and DMPL will receive ATFL shares as part of the deal and become public shareholders. ATFL also gains an exclusive, perpetual license to the Del Monte brand in India, broadening its market reach.
This acquisition enhances ATFL’s product lineup, including sauces, ketchup, dips, and beverages, complementing its existing offerings. ATFL will also leverage Del Monte’s state-of-the-art manufacturing and R&D facilities in Tamil Nadu and Punjab to drive innovation and expand its product range for Indian consumers.