Allanasons is India's largest exporter of processed food products and agro commodities. The company has picked up a minority stake worth Rs 20 crore in LT Foods.

Speaking to CNBC-TV18, Fauzan Alavi, Director of the company, said, "Allanasons and LT Foods, both are market leaders in our segments. Post COVID, the whole business model all the over world has changed, and we were also looking for diversification into other agri products. So, LT Foods is a natural partner for us.”

Alavi said that sectors like meat, coffee, and fruit pulp is doing well. However, he said that the company is looking to diversify into ready-to-eat for domestic consumers.

“India is such a huge market in itself and if one looks at it, airline catering, railway catering, the patterns have changed. There is more demand for ready-to-eat products. So, we are looking to explore this huge market that is available for us here,” he said.

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(Edited by : Priyanka Rathi)