Indian conglomerate ITC has taken full ownership of Yoga Bar manufacturer Sproutlife Foods Private.
In a stock-exchange filing, ITC said it has acquired an additional 13,445 equity shares in Sproutlife via a secondary purchase for around Rs6.45bn ($59.2m).
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The deal lifts the company’s shareholding in Sproutlife from about 47.5% to 100%, making the business a “wholly owned subsidiary” of ITC, the statement added.
ITC said the acquisition is in line with its strategy to build out a “future ready” foods portfolio.
The FMCG major first invested in Sproutlife in 2023, acquiring 39.42% of the company for Rs1.75bn. At the time, ITC signed a binding agreement to acquire 100% of Sproutlife over a period of “about three to four years”.
It gradually increased its holding to 47.5% before completing the takeover.
Sproutlife was founded in 2015 by sisters Anindita and Suhasini Sampath.
According to its website, the company’s “digital-first” portfolio includes snack and energy bars, cereals and nut butters under the Yoga brand. The products are sold through its direct-to-consumer platform and on e-commerce, as well as in retail stores.
Sproutlife reported a turnover of Rs4.52bn in the financial year ended in March, up from Rs2bn and Rs1.08bn in the previous two years, ITC said.
Following ITC’s initial investment in 2023, the chief executive of the company’s food division, Hemant Malik, said: “We believe that this investment is an exciting opportunity that aligns with ITC’s foods business’ aspiration to build a formidable portfolio in the nutrition-led healthy foods space.
“We look forward to scaling the Yoga Bar brand, offering superior and healthy consumer choices.”
ITC has been expanding in packaged foods through acquisitions.
Last year, the group acquired Sresta Natural Bioproducts, the owner of the 24 Mantra Organic brand.
It also snapped up Prasuma in 2025 to strengthen its presence in frozen, chilled and ready-to-cook foods.
