IFB Agro Industries Ltd has announced that its board has approved a proposal to acquire the entire commercial shrimp and freshwater fish feed business of Cargill India, marking a key strategic step to expand its footprint in the fast-growing aqua feed segment.

The acquisition, to be executed on a slump sale basis, includes Cargill India’s manufacturing facilities located in Vijayawada and Rajahmundry in Andhra Pradesh. It will also encompass feed formulations, assets, business contracts, liabilities, licenses, employees, and other associated resources, the company said in a regulatory filing.

The transaction is subject to the execution of a definitive Business Transfer Agreement (BTA) and is expected to be completed by July 31, 2025. IFB Agro stated that the consideration will be paid in cash, with the final amount to be disclosed upon signing the agreement.

“This acquisition aligns with our long-term strategy to strengthen our presence in the aqua feed sector and build scale in one of India’s most dynamic animal nutrition markets,” the company said in a statement.

Founded in 1996, Cargill India is a major player in the country's animal nutrition space and is also active in the grain, oilseed, and food ingredient sectors. The divestment marks a significant shift for the multinational as it streamlines its focus within the Indian market.

With this acquisition, IFB Agro is expected to gain critical production capacity and market access in the southern region of India, a key area for aquaculture production.