LT Foods Acquires Remaining Stake in Joint Venture with Kameda Seika
India's LT Foods has agreed to acquire the remaining 49% stake in its joint venture (JV) with Japan’s Kameda Seika, making it a wholly owned subsidiary. The deal involves purchasing Kameda Seika’s holding in Kameda LT Foods (India) Private Limited for Rs11.2 million ($117,026). This acquisition is expected to be finalized by 31 December after fulfilling legal and regulatory requirements. Kameda Seika cited strategic restructuring of its North American business as a reason for the share transfer, aiming to support long-term growth plans. The joint venture was established in 2017 to manufacture rice-based snacks such as Kaki Kari, Krispy Hopu, and Okaki in India. Despite reporting turnover of Rs140.3 million in FY26, the JV has remained unprofitable with a net loss of Rs121.1 million for the same period. This move aligns with broader strategic shifts by Kameda Seika, which also sold its US subsidiary Mary's Gone Crackers to Dare Foods' Rosseau Incorporated earlier this year.
Topics: acquisitions food industry joint ventures