Transaction Details
Prime Fresh Limited along with its group companies has completed acquisition of 51% stake in Poonaagrocart LLP by making an aggregate investment of ₹51,00,000 (Fifty-One Lakhs Rupees). The investment breakdown is as follows:
- Prime Fresh Limited: 36% stake for ₹36,00,000
- Florens Farming Limited: 10% stake for ₹10,00,000
- Florens Fresh Supply Solutions Private Limited: 5% stake for ₹5,00,000
Consequent to this acquisition, Poonaagrocart LLP has become an associate of Prime Fresh Limited.
Target Entity Details
Name: Poonaagrocart LLP
Incorporation: Incorporated as Limited Liability Partnership under LLP Act, 2008 on 13.03.2021 bearing LLPIN registration no. AAW-2958
Business Activities: Engaged in Ready-to-Heat and Ready-to-Eat frozen snacks and meals, offering a portfolio of over 50+ quality products
Financial Information:
- Partner's Capital Account: ₹15,00,000
- Partner's Current Account: ₹28,61,800
- Turnover FY 2024-25: ₹2,87,87,800
- Turnover FY 2023-24: ₹2,56,60,614
- Turnover FY 2022-23: ₹97,68,312
Industry: Manufacturing of Frozen Foods, Ready to Eat, Indian Snacks
Transaction Specifics
Related Party Aspects: The acquisition does NOT fall within related party transactions. Promoter/promoter group/group companies have no interest in the entity being acquired.
Business Alignment: The target entity's business (Ready-to-Heat segment) is outside the main line of business of Prime Fresh Limited.
Objects of Acquisition: To expand Prime Fresh Limited's presence across the food value chain and to enter into Ready-to-Eat and Ready-to-Heat segments.
Approvals: Apart from shareholder's approval, no regulatory approvals are required for the investment. The Company has taken Shareholder's approval via meeting.
Consideration Form: Cash consideration
Percentage Acquired: 51% total stake acquisition