U&i, India's premier brand in gadgets, accessories, and consumer electronics, has unveiled its latest offering with the launch of the Boom Box Series wireless speaker. This addition to the product lineup is set to redefine the portable audio experience for consumers seeking a more powerful option for their entertainment needs.
The Boom Box Series boasts a stylish design and innovative features, making it an ideal companion for house parties or outdoor picnics. With a powerful 40W output, this portable speaker features two 4-inch 20W speakers within its ABS body, delivering high-quality audio across a frequency range of 90Hz-20KHz. This versatility allows listeners to immerse themselves in various music genres of their choice.
In addition to Bluetooth version 5.0 connectivity for smartphones, the speaker includes a USB port and memory card slot for those who prefer playing music from flash storage. The built-in 2400mAh battery ensures extended usage, rechargeable via the USB port.
The standout feature of the Boom Box Series is its built-in RGB lights, transforming any room into a private party zone at the press of a button. The speaker also accommodates a microphone through the Aux-in jack, creating a karaoke setup for users to sing along to their favorite tracks. With a built-in mic for hands-free calls, users can answer phone calls without disconnecting from the speaker. An included infrared remote adds convenience, allowing users to control all features from the comfort of their sofa.
Convergent Finance LLP and Samara Capital have jointly declared the finalization of definitive documents for acquiring a 51.8 percent stake in Agro Tech Foods Limited (ATFL) from a subsidiary of Conagra Brands, Inc. ATFL, a listed company on the Bombay Stock Exchange and the National Stock Exchange, will undergo a mandatory open offer for an additional 26.0 percent of outstanding shares due to this acquisition. The deal is pending customary regulatory approvals and is anticipated to be completed in due course.
Conagra has been a controlling shareholder of ATFL since 2011, and during its tenure, ATFL expanded its food portfolio, featuring renowned brands like ACT II popcorn and Sundrop edible oils. Both brands are leaders in their categories, catering to both in-home and out-of-home consumption. ATFL will retain the license for the ACT II brand from Conagra for use in India.
Harsha Raghavan, Managing Partner at Convergent Finance said, “Agro Tech Foods’ category-defining brands have been beloved household names for the past three decades, thanks to the company’s relentless focus on quality, innovation, and customer delight. As India’s rapidly-growing consumer class expands and discretionary income levels continue to rise, we will expand ATFL’s distribution reach and product range, thereby transforming it into the country’s leading packaged and snack food platform.”
Manish Mehta, Managing Director and Co-Chief Investment Officer at Samara Capital said, “We are delighted to lead the acquisition of a majority stake in ATFL in partnership with Convergent. The company’s brands have high recall value with India’s consumers, and we aim to complement this hard-earned recognition with our knowledge of India’s food and consumer sectors to increase ATFL’s presence in fast-growing, high-margin categories. We intend to create a large and unique branded food platform in the country with this acquisition.”
Convergent Finance LLP, known for its investment management and advisory role, follows a value investing approach, emphasizing fair valuations through negotiated transactions. Samara Capital, founded in 2007, is a mid-market private equity firm in India with a focus on creating long-term value in partnership with entrepreneurs. Consumer and Retail form a significant focus area for Samara.
Conagra Brands, Inc, headquartered in Chicago, is a leading North American branded food company with a portfolio of iconic brands, including ACT II, Birds Eye, Duncan Hines, Healthy Choice, and Marie Callender’s, among others. The company is driven by a commitment to innovation and evolving to meet changing food preferences.
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