Home-grown FMCG firm LT Foods Ltd announced on Thursday (January 29) that its proposed acquisition of the Global Green Group has been officially withdrawn following Hungary's Ministry of National Economy's rejection of the deal. According to reports from CNBC TV18, the company received a decision from the Hungarian ministry dated January 28, 2025, rejecting the proposed acquisition due to identified national economic and sectoral risks.
The proposed transaction, which was earlier communicated in May 2025 and October 2025, involved LT Foods' agreement to acquire a 100% stake in Hungary-based Global Green Europe Kft for approximately 25 million euros (about ₹256 crore). As reported by CNBC TV18, the company had planned to pay 6 million euros upfront for the equity stake, with 1.8 million euros payable over two years through an earn-out mechanism. The transaction also included 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 following the acquisition cancellation announcement. According to CNBC TV18, the company had stated that the transaction was aimed at expanding its presence in the European packaged food market, with the Hungarian entities providing support and distribution capabilities for the Indian FMCG major's European operations.
