ITC has acquired the right to nominate majority of the directors on the board of Sproutlife with effect from 1 April 2026
Marking a step to deepen its presence in the fast-growing healthy foods segment, ITC has informed that it has acquired control of Sproutlife Foods, the maker of Yoga Bar, with effect from 1 April 2026.
Sproutlife has now become the subsidiary of ITC. The company said that it has acquired the right to nominate majority of the directors on the board of Sproutlife with effect from 1 April 2026. The company’s shareholding in Sproutlife is around 47.50 per cent of its share capital on a fully diluted basis.
Earlier, ITC informed that its step-down subsidiary Blazeclan Americas has been voluntarily dissolved, as part of a corporate restricting exercise. The subsidiary stands dissolved with effect from 24 March 2026, the company said in an exchange filing.
“We write to advise that Blazeclan Americas Inc., USA, a step-down subsidiary of the company, has been voluntarily dissolved with effect from 24 March, 2026; confirmation to this effect was received by the company yesterday at 11.12 pm,” ITC said on Thursday.
The company added that consequently, Blazeclan Americas Inc. has ceased to be a step-down subsidiary of ITC with effect from the said date. It became the subsidiary on 1 October 2024 and has a negligible financial contribution to ITC’s overall business.
ITC’s gross revenue was up 7.1 per cent year-on-year (YoY) in the third quarter of the current financial year, driven by double-digit revenue growth in FMCG-others (+12.6 per cent) and sustained momentum in cigarettes business (+8.2 per cent). The company saw a broad-based growth across categories viz. staples, biscuits, noodles, dairy, premium personal wash, homecare and agarbattis.
It witnessed incipient signs of recovery in notebooks amidst continued low-priced paper imports and opportunistic play by local/regional players, as per the exchange filing. The company said that strong performance continues in premium portfolio and new gen channels.
