Tilaknagar Industries (TI), has executed the agreement and acquired the complete IMFL business of the Kolkate based IFB Agro.
The boards of both the companies have already approved the acquisition paving the way for transfer of all IMFL brands from IFB Agro's portfolio into that of TI.
The acquisition is thus set to expand the already existing robust IMFL product brand line of Tilaknagar industries and add some of other premium brands.
Laxmi Narasimhan K, deputy managing director of TI said, "This is an EBITDA accretive acquisition for us. We are focused more on profitable volumes and the acquisition of IFB Agro's IMFL business will give us access to a profitable product line."
