Despite significant growth in horticultural production, the country still faces hurdles such as water scarcity and high operational costs.
This acquisition reflects Lipman’s broader commitment to vertical integration and meeting rising consumer demand for convenient food solutions.
The packaged foods maker expects a smaller annual sales decline after coffee and Uncrustables growth helped lift first-quarter revenue and earnings above analyst expectations.
The offer is on the table until September 15, so shareholders have time to decide whether to take the deal.
India expects adequate sugar stocks until October despite a production shortfall, while rising festive demand and global prices add pressure to the domestic market.