Mukka Proteins acquires controlling stake in FABBCO Bio Cycle, expands insect protein business

Mukka Proteins Limited announced on September 2, 2025, the completion of its acquisition and subscription of 4,858 equity shares in FABBCO Bio Cycle and Bio Protein Technology Private Limited ("FABBCO"). This transaction, at a premium of INR 11,250 per equity share, represents a 51% controlling stake in FABBCO for a total consideration of INR 5,95,10,500. This makes FABBCO a subsidiary of Mukka Proteins, aligning with the company’s strategic investment plans to expand its insect protein business.

The acquisition involved subscribing to 2,436 equity shares and acquiring 2,422 shares from existing shareholders, all at INR 1,000 face value with a premium of INR 11,250. FABBCO, incorporated on June 29, 2023, is engaged in manufacturing animal feed and processing various types of waste. For the fiscal year 2023-24, FABBCO reported a turnover of INR 77,97,799. This move expands Mukka Proteins' presence in the animal feed and waste processing industries.

Mukka Proteins also entered into a Shareholders Agreement (SHA) and a Share Purchase Agreement (SPA) with FABBCO and its existing shareholders on September 2, 2025. This agreement outlines terms for the subscription/acquisition of equity shares, including the reconstitution of FABBCO’s board of directors to include an equal number of nominees from Mukka Proteins and existing shareholders, and specific provisions for reserved matters requiring mutual consent.