Read more about LT Foods stock gains over 2% after ratings upgrade on bank loan facilities on Business Standard. The credit ratings agency said that the upgrade reflects continuous improvement in group s business and financial risk profiles
LT Foods rose 2.18% to Rs 58.60 after the credit ratings agency upgraded the credit ratings on the company s bank loan facilities worth Rs 1187.5 crore.
CRISIL Ratings has upgraded its rating on the bank facilities of LT Foods to CRISIL A/Stable/CRISIL A1 from CRISIL A-/Positive/CRISIL A2+ . The short-term rating on the company s bank facilities have also been upgraded from CRISIL A2+ to CRISIL A1 .
The credit ratings agency said that the upgrade reflects continuous improvement in group s business and financial risk profiles. Group achieved operating income of Rs 3499 crore in first nine months of fiscal 2021 compared to Rs 2948 crore in first nine months of fiscal 2020.
LT Foods picks 30% stake in Dutch packaged foods firm Leev LT Foods, which sells packaged rice under the Daawat, Heritage and Royal brands, on 20 January 2021 announced the acquisition of 30% stake in Leev.nu, a Netherlands-based organic specialty food company.
The move comes just weeks after the company expanded its manufacturing capabilities in Europe by commissioning a new packaging line at its plant in Rotterdam, Netherlands. LT Foods has five processing facilities in India, two packaging units and one ready-to-heat facility in the US, and one processing facility in Rotterdam.
The acquisition deal through its subsidiary Nature Bio Foods BV has an option to acquire further 21% stake after five years. A private equity investor Did-It, with experience in worldwide trading of organic products, has also taken a stake in Leev.nu.
L T Foods announced the acquisition of 30% stake in Leev.nu through its fellow subsidiary Nature Bio Foods BV (NBF B. V.), with an option to acquire a further 21% stake at the end of 5 years.
Nature Bio Foods Limited (NBF), the subsidiary of LT Foods has established itself as a responsible and dependable organic product and ingredient supplier across the globe. The Company has been providing authentic organic
products through its holistic, integrated & sustainable business model that inspires, promotes & supports thousands of organic farmers.
The acquisition of a stake in Leev.nu is in line with long term growth strategy of NBF.
January 20, 2021
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LT Foods says the acquisition has been done in line with the long term growth plans
LT Foods Ltd on Wednesday said that its subsidiary Nature Bio Foods BV, has acquired 30 per cent stake in a Netherland-based Leev.nu for an undisclosed amount. The company said the acquisition has been done with an option of acquiring a further stake of 21 per cent at the end of five years.
Leev.nu, which is an organic specialty food company, is known for a product portfolio consisting of breakfast bars, healthy snacks, baking range & gluten free and low sugar products . It is also expanding its product portfolio into organic whole grains categories such as oats and flax seeds.