India’s leading snacks producer, ITC Ltd has acquired the India unit of Australia-based agri-biotech company Technico Pty Ltd for $18.10 million.

ITC has acquired the entire equity share capital of seed potato producer Technico Agri Sciences Ltd India, a wholly-owned subsidiary of its Australian parent, the company said in a filing to Bombay Stock Exchange (BSE) recently.

The acquisition, completed on March 22, will help improve business and operational synergies in the agribusiness segment, the statement adds.