Leo Dryfruits & Spices Trading Ltd to acquire certain assets of Munchin Foods

Leo Dryfruits & Spices Trading Limited ("the Company") is entering into an Asset Purchase agreement to undertake purchase of certain specific assets of M/s Munchin Foods, Partnership Firm.

The acquisition is in line with the Company's strategic objective to expand its footprint and explore synergistic opportunities in downstream business segments. The purchase of assets include:

All of the Plant & Machinery, equipment, fixtures, computers, printers, and other items like Factory Deposit.

Intangible Assets - All trade names, customer lists, supplier lists, all existing customer contracts, all permits and licenses for the conduct of Seller's business whether such permits or licenses were issued by state or local authorities, good will and the right to use on an exclusive basis the name "Munchin Lite-bits" and any derivation of such name.

Excluded Assets - Inventory and Accounts Receivables as on closing date.

The total consideration to be paid for the above acquisition is Rs. 1,50,00,000 (One Crore Fifty Lakh).

Shares of Leo Dryfruits & Spices Trading Limited was last trading in BSE at Rs. 76.00 as compared to the previous close of Rs. 76.75. The total number of shares traded during the day was 22000 in over 9 trades.

The stock hit an intraday high of Rs. 76.50 and intraday low of 76.00. The net turnover during the day was Rs. 1673000.00.

Source : Equity Bulls

Keywords

LeoDryfruitsandSpicesTrading INE0RH001011 OtherFoodProducts Acquisition CertainAssets MunchinFoods