By P.R. Venkat
Indian conglomerate ITC Ltd. said it has bought spice manfacturer Sunrise Foods Ltd. for 21.50 billon rupees ($287.4 million).
The sellers are entitled to an additional consideration of up to INR1.5 billion contingent on certain milestones being achieved over next two years, ITC said late Monday.
Sunrise is a family-owned company.
Write to P.R. Venkat at venkat.pr@wsj.com