Khaitan & Co advised and assisted IFB Agro Industries Limited in relation to the proposed acquisition of the entire commercial compound shrimp feed and freshwater fish feed business of Cargill India Private Limited as a going concern on a slump sale basis, along with its manufacturing facilities located at Vijayawada and Rajahmundry in Andhra Pradesh.
The Firm acted as the transaction counsel to IFB Agro Industries and their responsibilities included:
Drafting, negotiating, finalising and execution of the business transfer agreement, transition services agreement and intellectual property assignment agreement; and
Assisting and advising on all execution related formalities.
The core transaction team consisted of Kartick Maheshwari (Partner), Shourya Sengupta (Partner), Sruti Baid (Principal Associate) and Pavitra Khaitan (Associate).
Intellectual Property: Nirupam Lodha (Partner), Shivangi Narang (Principal Associate) and Rebecca Cardoso (Associate).
Real Estate: Sudheer Madamaiah (Partner), Kartik Shiv Kumar (Counsel) and Shambhavi Y Kashyap (Associate).
Direct Tax: Sneh Shah (Partner).
Indirect Tax: Mayank Jain (Partner) and Pranay Sahay (Principal Associate).
This acquisition aligns with IFB Agro's long-term vision to bolster its presence and scale in India's growing aqua feed sector. The company aims to consolidate and expand its fish feed and shrimp feed operations through this move. While the consideration will be paid in cash, the final amount will be disclosed upon the signing of the definitive Business Transfer Agreement (BTA). The completion of the transaction is anticipated by July 31, 2025.
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