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By Colin Kellaher Conagra Brands has struck a deal to sell its majority stake in India-based foods and edible-oils maker Agro Tech Foods. Conagra on Thursday...

Agro Tech Foods: “As India’s rapidly-growing consumer class expands and discretionary income levels continue to rise, we will expand ATFL’s distribution reach and product range, thereby transforming it into the country’s leading packaged and snack food platform,”said Harsha Raghavan, Managing Partner at Convergent Finance.

ConAgra has divested its majority share in the company.

Conagra’s 51.77 percent stake in Agro Tech Foods is worth Rs 1,123 crore at the current market price of its shares. Rakesh Jhunjunwala family holds an 8.14 percent stake in the company

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Conagra Brands’ 51.77 percent stake in Agro Tech Foods was worth Rs 1,123 crore at the time of reporting that the US based packaged foods company is looking to sell a controlling stake in its Indian business.

A look at ITCs top line shows the revenue share of its tobacco business has nearly halved—from 62% in FY14 to 37% in FY23. This change cant come about unless you understand the Indian consumer. Sanjiv Puri, chairman and managing director of ITC, is among the few executives who has a finger on their pulse. In an exclusive interaction with ET, Puri talks about how the FMCG behemoth came to be.