Sampre Nutrition Signs Nigeria Deal

New Delhi, Aug 30 (PTI) Sampre Nutrition Ltd on Saturday said it has signed a three-year manufacturing agreement with Nigeria-based Tolaram Wellness Ltd to supply nutraceutical and food products.

The agreement will help boost nutraceutical and food operations and expand the global footprint, the Telangana-based company said in a statement.

The deal is expected to generate business of Rs 30 crore over three years, it said further.

"The contract strengthens our foothold in nutraceutical and food product manufacturing and will support our quality-driven expansion plans. The steady annual business under this contract, together with our recent strong quarterly performance and planned fundraising initiatives, will help us scale operations and serve global customers reliably," the company said.

Sampre Nutrition recently signed a three-year manufacturing agreement worth Rs 15 crore with Rama Exports to produce nutraceutical and food products.

The company, which manufactures confectionery and food products, plans a strategic fundraising initiative to support growth through QIP, preferential issue and other routes.