PNN
New Delhi [India], July 2: Leo Dryfruits & Spices Trading Limited (BSE: 544329), a trusted name in the sourcing, processing, trading, and marketing of premium-quality spices, dry fruits, and grocery products, has announced the acquisition of specific tangible and intangible assets of M/s Munchin Foods, a Mumbai-based partnership firm. The transaction was executed through an Asset Purchase Agreement on 28th June 2025, for a total consideration of ₹ 1.50 Cr.
As part of the acquisition, Leo Dryfruits & Spices Trading Limited has taken over a range of tangible assets including plant and machinery, equipment, computers, fixtures, and other related infrastructure such as factory deposits. The intangible assets acquired comprise trade names, customer and supplier lists, existing customer contracts, regulatory permits and licenses, goodwill, and the exclusive rights to use the brand name "Munchin Lite-bits" along with its derivatives.
M/s Munchin Foods, established in 2018, has been engaged in the manufacture and sale of namkeen, snacks, and other food products under the brand "Munchin Lite-bits." With operations concentrated in India, particularly Western India, the brand has established a growing presence in the value-for-money savoury snack market. The firm recorded revenues of ₹3.71 Cr in FY23, ₹2.45 Cr in FY24, and ₹1.70 Cr (provisional) in FY25.
The acquisition aligns with Leo Dryfruits & Spices Trading Limited's strategic objective to diversify its product portfolio and expand into adjacent downstream segments, particularly the packaged food and savoury snack categories. The integration of Munchin Foods' assets and brand with Leo's existing operations is expected to unlock synergistic benefits. Leo's established expertise in spices and dry fruits complements the product profile of Munchin Foods, enabling the Company to offer value-added savoury snack products.
This acquisition marks a significant step in Leo's growth roadmap as it strengthens its presence in the Indian food sector and enhances its ability to serve evolving consumer preferences in the packaged savoury segment.
Commenting on the development, Mr. Kaushik Shah, Chairman and Managing Director of Leo Dryfruits & Spices Trading Limited said, "The acquisition of specific assets from M/s Munchin Foods is a strategic milestone for Leo Dryfruits & Spices Trading Limited as we take a focused step toward expanding our footprint in the packaged food industry. Our core strengths lie in the sourcing, processing, and trading of high-quality spices and dry fruits key ingredients that are integral to the savoury snacks category.
With the addition of the well-recognized 'Munchin Lite-bits' brand and its existing production capabilities, we see a strong synergy that aligns seamlessly with our long-term vision of product diversification and value-chain integration. This acquisition not only provides us access to an established brand and its customer base but also opens up opportunities to develop innovative, value-added snack products tailored to Indian tastes.
We believe this move will help us deepen our market presence, unlock new growth avenues, and strengthen our position in the domestic FMCG sector."
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