LT Foods expects 10-15% growth from organic business going ahead
The board of LT Foods has approved proposed investment by Rabobank's India Agri Business Fund II into NBFL - a wholly owned subsidiary of the company.
The board of LT Foods has approved proposed investment by Rabobank's India Agri Business Fund II into NBFL - a wholly owned subsidiary of the company.
Ashwani Kumar Arora, managing director and CEO of LT Foods, spoke to CNBC-TV18 about the investment.
“Total commitment is Rs 140 crore and first tranche will be Rs 100 crore. So Rs 40 crore is if we will need it in future, they are committed to that,” Arora said.
“Going forward we are looking for 10-15 percent growth from our organic business,” he added.
“Rabobank has a very strong network in Europe and Europe is a very big market for organic produce. That was one rationale. Other was, we are launching Ecolife, our brand globally and part of this money will go in the investment in the brand,” said Arora.
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