LT Foods Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 13, 2011, has decided to acquire two offshore companies in Europe; in the name of 'Rice N Spice International and A & A International Limited' for total consideration of Euro 323000 approx and to convert them as wholly owned subsidiaries of the Company.
Rice N Spice International and A & A International Limited' is engaged in Distribution business of Basmati Rice and other food products. The objective of the Company is to establish its footprints in the European market and to increase the distribution of Daawat in Europe and the neighbouring countries.
Sensex
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Wednesday, April 13, 2011
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