In a statement, Dabur stated that it has offered Rs 587.5 crore in cash to acquire a 51 percent ownership in Badshah Masala. According to the company’s news statement, the transaction should be finalised before March 31, 2023.
The firm said, “Dabur India Limited has entered into a share purchase agreement and shareholders agreement with the existing promoters and shareholders of Badshah Masala Private Limited to acquire 51 percent of the equity share capital of the target company and balance 49 percent after a period of five years.”
Dabur India Ltd Chairman Mohit Burman said: “Our investment in Badshah Masala will help expand this business and continue to provide unmatched quality products. This acquisition will accelerate our growth strategy as we continue to build our food business. We intend to leverage our international market presence to grow this business globally.”