India’s Lt Foods Buys Hungary’s Global Green Europe

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India’s LT Foods has agreed to acquisition 100% of Hungarian shelf-stable fruits and vegetables shaper Global Green Europe. 

LT Foods said it will salary €6m ($6.9m) astatine closing for afloat equity, pinch a further €1.8m complete nan adjacent 2 years via an earn-out, and will besides return connected nan company’s debt.  

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In a banal speech filing coming (14 October), nan proprietor of nan Royal and Daawat basmati atom brands said nan woody would “further strengthen” its ready-to-heat and ready-to-eat portfolio.  

Beyond “expanding our merchandise portfolio and world footprint”, V K Arora, nan executive president of LT Foods, said nan woody “enables america to participate nan processed canned nutrient market, leveraging synergies pinch our existing business successful Europe”.  

Currently, LT Foods operates European manufacturing sites successful nan Netherlands and nan UK.   

Vikas Magoon, managing head of LT Foods Europe, added: “[The] summation of Global Green Europe Kft., Hungary, will alteration LT Foods to found a 3rd manufacturing hub successful Europe, strengthening its foothold successful cardinal and confederate Europe.  

“A manufacturing guidelines successful Hungary besides offers a comparative costs advantage vis-à-vis our existing facilities, enhancing LT Foods’ competitiveness successful nan region.” 

Global Green’s Hungarian business was formed successful 2006 aft nan acquisition of Intergarden and now supplies much than 30 countries crossed Europe. 

Its portfolio includes canned sweetcorn and jarred gherkins, metallic tegument onions, peas and sour cherries, produced astatine 2 plants connected 45 acres successful Hungary.  

The acquisition, to beryllium executed done LT Foods Europe Holdings, includes Global Green International (UK) and Greenhouse Agrár, which enactment arsenic support and distribution entities. 
 

The transaction, which is expected to adjacent successful nan 3rd 4th of LT Foods’ financial twelvemonth 2026, implies an endeavor worth of astir €25m, according to nan filing.  

Global Green posted a turnover of €40.8m successful 2022, €37.0m successful 2023 and €40.3m successful 2024. The business employs much than 170 people. 

For nan financial twelvemonth ended 31 March 2025, LT Foods reported full gross of Rs87.70bn ($987.6m), up 12% year-on-year.  

EBITDA roseate 8% to Rs 10.67bn and profit aft taxation accrued 2% to Rs6.12bn.  

In Q1 FY’26 that ended 30 June, full gross grew 20% to Rs25.01bn, EBITDA climbed 17% to Rs3.02bn and profit aft taxation was Rs1.69bn, up 9%.