Prataap Snacks To Acquire 80% Stake In Avadh Snacks
Prataap Snacks Limited (PSL) one of India's fastest growing snack foods company has announced the acquisition of Avadh Snacks Private Limited, (Avadh)- Gujarat's leading snacks food company. PSL has agreed to acquire 80% equity stake for a consideration of Rs.148 crores through a combination of primary & secondary investment.
Avadh Snacks Private Limited, promoted by Mr Rajesh Savani, Mr Dilip Lolani and Mr Neel Jagani is engaged in the manufacturing and selling of branded packaged snacks under the brand name "Avodh". Started in 2010, Avadh today has a well-diversified and strong product portfolio for namkeens like bhujia, chevda, fafda, gathiya, etc. and extruded pellets like wheels, cups, pasta, etc. with a strong presence in the state of Gujarat and now expanding to Maharashtra and Rajasthan.