On Tuesday, India-based exporter of meat, frozen fruits and vegetable products, coffee, spices and cereals, Allana Group, has announced an investment of Rs 20 crore for a 1 per cent stake in LT Foods that sells Daawat and Royal branded rice. The two companies plan to work together to expand the packaged rice company’s consumer products business to focus on value-added as well as impulse food products.

“Both companies have underlying strengths in distribution, production and marketing of food products. This will give the alliance a superior edge in the market. We look forward to working with LT Foods and synergizing our strengths to provide our products in the Indian market and also explore export markets together to capitalize on our strengths while maintaining the highest standards of quality in procurement, manufacturing, and distribution,” Fauzan Alavi, director of Allanasons.

Allana Group has a large export business that sells its products to over 85 countries. It also distributes brands such as London Dairy Ice Cream, Sunny Oil, and Pristine Bakery.

LT Foods sells its packaged rice brands such as Daawat, Heritage, Royal, across the US, India, the UK, Europe, Middle East and Far East. It also has a range of organic food products, apart from rice-based sauces and snacks. For FY20, it reported revenue of Rs 2,350.07 crore, according to data available with the BSE. In January, LT Foods had announced the acquisition of a 30 per cent stake in Leev.nu, a Netherlands-based packaged foods company through its subsidiary Nature Bio Foods BV.