Agro Tech Foods Strengthens Portfolio with Del Monte Foods India Acquisition

Agro Tech Foods Limited (ATFL), a key player in India’s food and edible oils market known for brands like ACT II popcorn and Sundrop, has announced its acquisition of Del Monte Foods Private Limited (DMFPL), pending approvals. This transaction strengthens ATFL’s presence in the retail sector across India, allowing it to diversify and expand its product offerings under the potential new name, Sundrop Brands.

DMFPL, previously a joint venture with Bharti (59.29 percent) and DMPL India Limited (40.71 percent), will transfer ownership, making Bharti and DMPL public shareholders in ATFL. Additionally, ATFL will gain a perpetual license to the Del Monte brand for India, reinforcing its long-term position in the market.

The acquisition includes Del Monte’s extensive product lineup, including Italian products, sauces, ketchup, dips, spreads, and beverages. These additions align with ATFL’s focus on quality food solutions, allowing it to serve a broader customer base across traditional retail, modern retail, quick-service restaurants, and food services.

ATFL also acquires Del Monte’s manufacturing and R&D facilities in Hosur, Tamil Nadu, and Ludhiana, Punjab. These facilities, known for innovation and quality, will support ATFL’s expansion and the development of new products tailored to Indian consumers.

With this acquisition, ATFL has appointed Nitish Bajaj as Group Managing Director. Bajaj, with over 28 years of experience in consumer goods, has held previous roles as CEO of Piramal's Consumer Products Division and SVP of Marketing at CEAT Tyres.

Asheesh Kumar Sharma, CEO and Executive Director of ATFL said, “We are thrilled to welcome Del Monte Foods into the Sundrop Brands family. This partnership aligns perfectly with our enhanced vision of bringing joyful food experiences to the modern consumer. Working closely with Nitish Bajaj, we intend to deliver maximum value to all stakeholders.”

Harjeet Kohli, Joint Managing Director of Bharti Enterprises added, “Bharti is excited to announce the combination of ATFL and Del Monte Foods Private Limited, making Bharti the second largest shareholder. Leveraging synergies and a loyal consumer base, this transaction is set to bolster the platform’s scale and margin profile, offering a diverse portfolio to consumers and accelerating growth.”

Del Monte Pacific Limited (DMPL) added, “India has been an exciting market for Del Monte. With Sundrop Brands, we believe the Del Monte brand will reach new heights in India. This transaction supports our strategic focus on growth-driven partnerships.”

This acquisition represents ATFL’s strengthened commitment to the Indian retail market, promising growth and enhanced offerings for consumers across the country.