LT Foods cancels Global Green Group acquisition following Hungary's rejection

Home-grown FMCG firm LT Foods Ltd on Thursday (January 29) said the proposed acquisition of the "Global Green Group," which includes Global Green Europe Kft., Greenhouse AGRAR Kft., and Global Green International (UK) Ltd will not proceed.

The company received a decision from the Ministry of National Economy, Hungary, dated January 28, 2025, rejecting the proposed acquisition due to identified national economic and sectoral risks. The proposed transaction, earlier communicated in May 2025 and October 2025, has been officially withdrawn and will not be taken forward.

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Last year, LT Foods said it had agreed to acquire a 100% stake in Hungary-based Global Green Europe Kft for approximately 25 million euros (about Rs 256 crore) to expand its presence in the European packaged food market.

It will pay 6 million euros upfront for the equity stake, with 1.8 million euros payable over two years through an earn-out mechanism, the company said in a regulatory filing. It will also assume the target's debt. The transaction includes the acquisition of Global Green International (UK) Limited and Greenhouse Agrar Kft, which serve as support and distribution entities.

Shares of LT Foods Ltd ended at ₹360.50, up by ₹2.45, or 0.68%, on the BSE.

Also Read: LT Foods Q2 Result: Profit rises 10% YoY; revenue jumps to ₹2,766 crore