4 months ago
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iD Fresh Food, a nutrient brand, said funds managed by backstage equity steadfast Apax Partners LLP, volition get a important number involvement from existing shareholders Premji Invest and TPG NewQuest, some of which volition stay investors alongside its co-founder, PC Musthafa, and his cousins.
Financial presumption of the transaction were not disclosed. Founded successful 2005, iD Fresh was created to marque fresh, preservative-free, traditionally prepared Indian nutrient disposable astatine scale.
Today, iD Fresh is India’s largest ready-to-cook caller foods marque and the class person successful branded batter and Indian flatbreads, with an estimated 50–60% stock successful its halfway categories.
P.C. Musthafa, co-founder & CEO of iD Fresh, said, “This concern marks a defining infinitesimal successful iD Fresh’s journey. From a humble batter-making portion to a marque trusted by millions of households, our maturation has been anchored successful 1 elemental belief, that consumers merit fresh, honorable nutrient with nary shortcuts. The Apax Funds’ concern volition let america to accelerate growth, physique capacity, broaden our merchandise range, and standard into much cities and markets.”
Harjot Dhaliwal, Partner and Head of India astatine Apax, said, “iD Fresh has delivered strong, accordant maturation successful large, under-penetrated markets. We volition enactment intimately with the absorption squad and leverage our user packaged goods expertise to accelerate growth.”
Rohan Haldea, Partner astatine Apax, said, “iD Fresh sits astatine the intersection of respective powerful, semipermanent trends successful India – rising incomes, accelerated urbanisation, and consumers’ tendency for convenient yet fresh, clean-label nutrient astatine home. With Apax’s investment, we volition spouse with iD Fresh to enactment its adjacent signifier of maturation successful India.”
