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Business EconomyPosted at: Aug 1 2024 7:45PM


Godrej Agrovet sings definitive agreement to acquire remaining 49 pc stake in GTFL

Hyderabad, Aug 1 (UNI) To increase its stake from 51 percent to 100 percent, Godrej Agrovet Limited (GAVL), one of India’s largest diversified food and agri-business conglomerates, announced on Thursday that it has signed a definitive agreement with Tyson India Holdings Limited, an affiliate of Tyson Foods, Inc., to buy its 49 percent stake in Godrej Tyson Foods Limited (GTFL), a subsidiary of GAVL.
With this transaction, GAVL will now hold a 100 percent stake in GTFL, thereby further consolidating its business.
In 2008, GAVL entered into a joint venture with an affiliate of Tyson Foods, Inc. to manufacture and market processed poultry and vegetarian products.
Selling products under its brands 'Real Good Chicken' and 'Yummiez', GTFL is also engaged in the sale of live poultry birds in the market.
“Our partnership with Tyson Foods has been very enriching. Enabling us to leverage their capabilities in vertically integrated poultry processing and product development, it enabled us to modernise the way high-quality poultry products are developed, produced, and distributed in our country,” said Balram Singh Yadav, Managing Director, Godrej Agrovet Limited.
“The household penetration of frozen snacks in India is below 6%, indicating ample room for expansion. Hence, as we continue to focus on branded business supported by a cost-efficient live bird production system, our endeavour is to strengthen our portfolio and increase our presence across different channels,” he added.
With its presence in more than 35 cities increasing, GTFL has also started exporting products under the Godrej Yummiez brand to several countries.
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