Norway's Orkla to buy spice maker Eastern for ₹1,356 cr, merge it with MTR

Norway's Orkla has agreed to buy a 67.8% stake in Kerala-based spice maker Eastern Condiments for ₹1,356 crore and merge it with its subsidiary MTR Foods. Orkla, through MTR, will buy a 41.8% stake from Eastern's promoter Meeran family and the entire 26% stake held by US-based McCormick & Company. The deal will help Orkla double its sales in India.