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Prataap Snacks Ltd (PSL), known for its Yellow Diamond chips, is set to acquire an 80 per cent stake in Gujarat-based namkeen maker Avadh Snacks Pvt Ltd for ₹148 crore. The purchase involves a combination of primary and secondary investments, the company said in a statement.
Started in 2010, Avadh Snacks’ product range includes bhujia, chevda, fafda and gathiya, and extruded pellets like wheels, cups and pasta. It has a strong presence in Gujarat and is now expanding to Maharashtra and Rajasthan.
Pratap Snacks MD & CEO Amit Kumat said: “Our acquisition of Avadh will help us accelerate our growth and deepen our presence in the key market of Gujarat…Gujarat is the biggest salty snacks market in India and is one of the most important markets where PSL would like to build a presence with a strong partner like Avadh.”
Avadh Snacks founder Rajesh Savani said: “Avadh is well positioned to penetrate deeper in its home markets and expand further in new geographies and products. We at Avadh are delighted to have Prataap Snacks lead us on this exciting journey...”
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