LT Foods, the parent company of Daawat and a major player in the packaged foods industry, has announced its entry into the canned food category with the acquisition of Hungary-based Global Green Europe Kft. The deal, valued at approximately €25 million (around ₹225 crore), will be executed through LT Foods Europe Holdings Limited, the company said in a statement on Tuesday.
As part of the transaction, LT Foods will pay €6 million upfront and another €1.8 million over the next two years, while also taking over Global Green’s outstanding borrowings. The deal includes the acquisition of Global Green International (UK) Limited and Greenhouse Agrár Kft., and is subject to foreign direct investment approval in Hungary.
Founded in 2006, Global Green Europe operates two manufacturing facilities in Hungary and exports to more than 30 countries across Europe. The company’s product line includes sweet corn, gherkins, onions, peas, and cherries. It reported an annual turnover of about €40 million in 2024.
LT Foods said the acquisition will allow it to expand its packaged food portfolio and strengthen its Ready-to-Heat and Ready-to-Eat businesses across Central and Southern Europe. This move aligns with its long-term goal of becoming a diversified global food company with a wider reach across developed markets.
“This acquisition marks an important step forward in our strategy of expanding both our product portfolio and our global footprint,” said V.K. Arora, Executive Chairman of LT Foods. “We see strong synergies in distribution, sourcing, and innovation that will help us build scale in the European packaged food market.”
Prowess Advisors served as the exclusive transaction advisor to LT Foods for the deal, which further consolidates its position in the global consumer food segment.
