FMCG major Dabur India has completed the acquisition of a 51 percent stake in spice brand Badshah Masala.
"Pursuant to share purchase agreement and shareholders agreement executed by Dabur India Limited with the existing promoters and Shareholders of Badshah, Dabur has acquired 51 percent equity shareholding of Badshah from its shareholders," Dabur informed the stock exchanges.
"The said transaction has been completed on January 2, 2023", the company further noted.
The regulatory filing further added that consequent to the above transaction, Badshah Masala has become a subsidiary of Dabur "with effect from today".
Dabur had, on October 26, announced that it would acquire a 51 percent stake in Badshah Masala for Rs 587.52 crore. The deal valued the Badshah enterprise at Rs 1,152 crore.
Dabur Group Director P D Narang had, in a release, also stated that the remaining 49 percent stake in Badshah Masala would be acquired by the company after five years.
