Leo Dryfruits & Spices Trading Limited, a premier name in sourcing, processing, trading and marketing high-quality spices, dry fruits and grocery products, has placed an announcement of acquiring certain tangible as well as intangible assets of M/s Munchin Foods, which is a Mumbai-based partnership firm. The sale was made under the Asset Purchase Agreement dated 28th June 2025 at the cost of 1.50 Cr.
To carry out the acquisition, Leo Dryfruits & Spices Trading Limited acquired a variety of physical assets, including plant and machinery, equipment, computers, fixtures, and other relevant property such as factory deposits. The company also purchased intangible assets such as trade names, customer and supplier lists, existing customer contracts, regulatory permits and licenses, goodwill, and exclusive rights to use the brand name Munchin Lite-bits and its modifications.
M/s Munchin Foods, the company that introduced the Munchin Lite-bits brand, has been producing and marketing namkeen, snacks, and other food items since 2018. Having its operations in India, the brand, especially in the Western India area, has created a steady presence in the value-for-money savory snacks market. It had 3.71 Cr, 2.45 Cr and 1.70 Cr (provisional) in revenues in FY23, FY24 and FY25, respectively.
The acquisition falls in line with the strategic aim of Leo Dryfruits & Spices Trading Limited to diversify its current product range and move into neighboring downstream sectors, specifically corn produce as well as savory snacks and packaged food forms. Leo expects to realize synergistic gains by integrating the assets and brand of Munchin Foods into its current operations. With established experience in spices and dry fruits, Leo complements Munchin Foods’ product profile, enabling the company to produce value-added savory snack products.
The move is a major milestone in the expansion plan of the Leo company since it becomes stronger in the Indian food market and improves its chances of catering to the changing needs in the packaged savory world.
“The acquisition of specific assets from M/s Munchin Foods is a strategic milestone for Leo Dryfruits & Spices Trading Limited as we take a focused step toward expanding our footprint in the packaged food industry. Our core strengths lie in the sourcing, processing, and trading of high-quality spices and dry fruits, key ingredients that are integral to the savory snacks category.”
“With the addition of the well-recognized ‘Munchin Lite-bits’ brand and its existing production capabilities, we see a strong synergy that aligns seamlessly with our long-term vision of product diversification and value-chain integration. This acquisition not only provides us access to an established brand and its customer base but also opens up opportunities to develop innovative, value-added snack products tailored to Indian tastes.”
“We believe this move will help us deepen our market presence, unlock new growth avenues, and strengthen our position in the domestic FMCG sector.”
– Mr. Kaushik Shah, Chairman and Managing Director of Leo Dryfruits & Spices Trading Limited.