ITC buys seed potato maker Technico's India unit

In a bid to consolidate its footing in the agricultural business segment, ITC Ltd has acquired the Indian subsidiary of Australian company Technico Pty Ltd.

The Indian arm, Technico Agri Sciences Ltd India was acquired for Rs 121 crore. 

The company informed the stock exchanges about the move on Thursday.

In a statement to the BSE, the company also said that it completed the merger on March 22. 

According to a Reuters report, ITC expects the acquisition to improve business and operational synergies in the segment.