The ITC Limited on Thursday announced it has acquired 100% of the share capital of Sresta Natural Bioproducts that sales under the ‘24 Mantra Organic’ brand, to fortify FMCG major’s presence and market standing in the high growth organic products segment in both Indian and overseas markets.

The share acquisition is expected to be completed in Q1 of FY 2025-26 or such later date as may be mutually agreed upon by the parties, said ITC in a stock exchange filing.

As per the statement, the deal will be worth Rs 472.50 crore on a cash-free debt-free basis, subject to customary adjustments as set out in the share purchase agreements, comprising Rs 400 crores payable upfront at closing and up to Rs 72.50 crore payable in the next two years post closing.

Diversified conglomerate ITC Ltd reported a 7% year-on-year (YoY) decline in consolidated net profit for the quarter ended December 31, 2024, to Rs 4,935 crore. The profit is attributable to the owners of the company. In the year-ago period, the company had reported a profit of Rs 5,335 crore. Revenues, meanwhile, increased 8% YoY to Rs 20,350 crore.