TATA Consumer Products has procured Kottaram Agro Foods (KAF), a Bengaluru based start-up of Kerala based Prasanth Parameswaran. TATA is buying the Start-Up for Rs. 155.8 crores. Both companies have endorsed the contract in connection with the acquisition. It is expected that the acquisition procedures will be achieved by March.
Kottaram Agro Foods owns the brand ‘soulful’, which was begun in 2013. KAF produces healthy food items using natural and small crops. Rasika Prasanth, KK Narayanan, and Amith Sebastian are the co-founders of this company along with Prasanth Parameswaran.
KAF has an active presence in the healthy snacks market including millet based breakfast cereals, light food items such as Ragi bites, Millet muesli among others. The company had a turnover of Rs 39.38 crores in 2020 alone. Prasanth has 43 percent of the company’s shares. He is a member of the Kottaram family in the Alappuzha district. He is also a member of MS Swaminathan’s family, who established the Green Revolution in the country.