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AB Foods buys $79 mn Indian food brand Patak’s

AB Foods buys $79 mn Indian food brand Patak’s
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First Published: Tue, May 29 2007. 12 36 PM IST
Updated: Tue, May 29 2007. 12 36 PM IST
By Reuters
London: Associated British Foods Plc said on 29 May it had agreed to buy Indian cuisine brand Patak’s, with assets worth 40 million pounds ($79 million,Rs319 crore), from the founding Pathak family.
London-based food and retailing group ABF, which refines silver spoon sugar and makes Ovaltine beverages and Twinings tea, said the acquired business comprises the Patak’s brand and assets in all countries except India.
Patak’s, which had 66 million pounds in revenue in the year to end-September 2006, manufactures and distributes Indian cooking sauces, curry pastes and chutneys.
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First Published: Tue, May 29 2007. 12 36 PM IST
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