NHC Foods Ltd has approved a Letter of Intent (LOI) to acquire Agriconnect Solutions Private Limited, a move aimed at enhancing its procurement and distribution capabilities in the agri commodities sector. The Board of Directors approved the proposal during a meeting held on July 02, 2026. The strategic acquisition is expected to generate synergies with NHC Foods' existing operations and improve its financial position through the target company's positive cash flows.

Agriconnect Solutions Private Limited, incorporated on March 22, 2021, has been profitable since its inception. The company operates in the supply and trading of agri commodities and has completed four full years of operations. NHC Foods intends to provide the necessary working capital to the target entity to facilitate further business expansion following the acquisition.

The financial performance of Agriconnect Solutions Private Limited over the past three years shows significant revenue generation. The company achieved a peak revenue of ₹360.80 Cr in FY24, followed by ₹117.57 Cr in FY25. Its Profit After Tax (PAT) stood at ₹31.25 lacs during FY24 and ₹2.89 lacs in FY25.

Financial Overview of Agriconnect Solutions Private Limited

The acquisition is not a related party transaction, and no promoter or group company holds an interest in the target entity. NHC Foods stated that no specific governmental or regulatory approvals are required for the transaction. The company plans to complete the necessary due diligence within a period of three months from the date of the LOI.

The consideration for the acquisition, whether in cash or share swap, will be determined based on a valuation report obtained from an independent valuer after the completion of the due diligence process. The exact cost of acquisition and the percentage of shareholding to be acquired are yet to be ascertained.

NHC today announced a strategic partnership with Meter, a vertically integrated networking company, to expand the NHC STACK. This collaboration provides NHC's Trusted Advisor Community with access to a modern enterprise networking capability designed to simplify deployment, improve visibility, and accelerate business outcomes for customers. The partnership addresses growing network complexity, distributed operations, and evolving security requirements by offering a streamlined infrastructure management solution.

Through this agreement, NHC Trusted Advisors can leverage Meter's networking platform, which combines hardware, software, deployment, monitoring, and lifecycle management. This platform is built on a single data pipeline from the local network to the data center. By integrating Meter's capabilities with NHC's operational expertise and service assurance, the partnership enables the modernization of networking environments without traditional complexity.

"At NHC, our mission is to equip our Trusted Advisor Community with differentiated solutions that solve real business challenges," said Glen Nelson, SVP Marketing and Business Development at NHC. "Customers don't need more technology vendors. They need trusted partners who can help them navigate complexity and deliver outcomes. By bringing Meter into the NHC STACK, we're giving our advisors another powerful way to help organizations simplify operations, improve network visibility, and support long-term growth."

Strategic Benefits

The integration of Meter into the NHC STACK allows advisors to align connectivity, intelligent edge technologies, and operational accountability. This approach supports business objectives by creating a simplified networking strategy that reduces management burden. Meter's platform delivers a unified stack of enterprise hardware, software, and operations as a service for one predictable monthly fee.

"Partnering with NHC allows us to extend the reach of Meter through one of the industry's most respected Trusted Advisor communities," said Peter Atkin, Head of Partnerships and Channel at Meter. "NHC's commitment to customer outcomes, advisor enablement, and long-term relationships makes this partnership a natural fit."

Partnership Overview