ITC closes Yoga Bar deal with Rs 645 Cr tranche
ITC now owns all of Yoga Bar's parent. The Rs 645 Cr is the price of the last 52.5 per cent, not of the whole company.
- ITC bought the remaining 52.5 per cent of Sproutlife Foods, the Yoga Bar parent, for around Rs 645 Cr, making it a wholly owned subsidiary with effect from 28 September.
- This is the closing tranche of a deal announced in January 2023, not a fresh cheque: Rs 175 Cr for 39.4 per cent, then Rs 80 Cr to reach 47.5 per cent, then Rs 645 Cr for the rest.
- Sproutlife turnover went from Rs 108 Cr in FY24 to Rs 200 Cr in FY25 to Rs 452 Cr in FY26. Inc42 publishes no profit or loss figure and no multiple.
- On our arithmetic the three tranches total Rs 900 Cr, and the last one implies about Rs 1,228 Cr for 100 per cent at closing.
ITC has completed its acquisition of Sproutlife Foods, the parent of healthy snacking brand Yoga Bar, buying the remaining 52.5 per cent for around Rs 645 Cr. Inc42 reported it on 29 September from ITC’s exchange filing, which says ITC bought 13,445 equity shares of Sproutlife through a secondary purchase, lifting its holding from around 47.5 per cent to 100 per cent and making Sproutlife a wholly owned subsidiary with effect from 28 September.
This is the closing leg of a staged deal rather than a fresh Rs 645 Cr cheque. ITC first announced the plan in January 2023, saying it would acquire 100 per cent of Sproutlife in tranches over three to four years. It put in Rs 175 Cr for 39.4 per cent through primary subscription of shares plus secondary purchases, then a further Rs 80 Cr to reach 47.5 per cent.
Three numbers here are ours, not Inc42’s. The tranches add to Rs 900 Cr. The Rs 80 Cr leg bought roughly 8.1 percentage points. Rs 645 Cr for 52.5 per cent implies about Rs 1,228 Cr for the whole company at closing. Treat Rs 900 Cr as money deployed, not a valuation: the first tranche included a primary subscription, so part of it went into Sproutlife rather than to selling shareholders.
What moved between the first tranche and the last is turnover. Sproutlife reported Rs 108 Cr in FY24, Rs 200 Cr in FY25 and Rs 452 Cr in FY26, more than doubling in the final year. Inc42 gives no profitability figure. Yoga Bar, founded in 2014 by Suhasini Sampath Kumar and Anindita Sampath Kumar, sells nutrition bars, muesli, oats and cereals across channels. ITC frames the purchase as part of building a “future-ready” portfolio in foods.
The structure is the lesson for founders. Inc42 notes ITC used the same phased shape for Meatigo’s parent Ample Foods, starting at 43.8 per cent for nearly Rs 131 Cr and rising to 62.5 per cent by April 2027. HUL completed 90.5 per cent of Minimalist’s parent Uprising Science for Rs 2,706.44 Cr in April 2025, with the rest agreed within two years. Marico agreed in September 2025 to buy the remaining 46.02 per cent of True Elements’ parent HW Wellness Solutions for Rs 138 Cr. A full exit is rarely one signature, and the last tranche is priced on the numbers you post in between.
Zane’s analysis draws on original reporting by Inc42. Read the original report.