India's IHG buys UK food producer from Duke Street
India Hospitality Group (IHC) has acquired UK-based ready-made food producer Adelie Food Holding from Duke Street Capital for $350 million. The deal – the largest overseas acquisition by an India-focused food and beverage company in six years – is said to be rooted in strong demand for quality fast food products among India’s expanding middle class.
Adelie, which employs 3,000 people across seven manufacturing bases, accounts for about one fifth of the GBP3.7 billion ($5.8 billion) UK food-to-go market, the Financial Times reported. India's food services...
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