Tata Consumer Products Limited (NSEI:TATACONSUM) entered into share purchase agreement to acquire Organic India Private Limited from Fabindia Limited for an enterprise value of INR 19 billion on January 12, 2024. The board of Tata approved the transaction. The shareholder will also receive an additional earnout which is linked to FY2025-26 audited financials of Organic India Private Limited. Organic India reported turnover of INR 3.2 billion and net worth of 1.6 billion on March 31, 2023. The acquisition is expected to be completed within 3 months. The Goldman Sachs Group, Inc. acted as a financial advisor to Organic India Private Limited. PWC acted as financial advisor, due diligence advisor and accountant to Fabindia Limited. Harsh Maggon and Pranav Atit, Kirti Balasubramanian, Rahul Arora, Atul Gupta and Nikhil Narendran of Trilegal and Sidley Austin LLP acted as legal advisor to Tata consumer Products Limited. Kotak Mahindra Capital Company Limited acted as financial advisor to Tata consumer Products Limited on the transaction. Mohinder Puri & Co. Investment Banking Arm acted as financial advisor Pearl Cohen Zedek Latzer Baratz LLP and AZB & Partners acted as legal advisor to Fabindia Limited.

Tata Consumer Products Limited (NSEI:TATACONSUM) completed the acquisition of 99.99% stake in Organic India Private Limited from Fabindia Limited on April 16, 2024.