ITC doubles down on frozen foods business; plans to acquire Prasuma for Rs 300 crore
According to Hemant Malik, Wholetime Director, ITC, the addition of Prasuma into ITC’s portfolio will help it build a full stack of frozen and ready-to-cook foods portfolio. The move aligns with its ITC Next strategy coined by its Chairman Sanjiv Puri.
ITC to acquire Prasuma and Meatigo to strengthen frozen food portfolio
ITC has signed definitive agreements for the acquisition of Prasuma1, a player in the frozen, chilled and ready-to-cook foods space in India. It operates through the ‘Prasuma’, ‘Meatigo by Prasuma', and ‘Prasuma Momo Kitchen’ brands. It will acquire a 100% stake in Prasuma over three years, said a joint statement.
ITC to acquire Prasuma, expanding footprint in frozen, ready-to-cook foods
Prasuma now has a presence in 100+ cities across all online, and offline channels and cloud kitchens. Its direct-to-consumer channel “Meatigo by Prasuma” offers a curated selection of exclusive products,
ITC signs agreement to acquire frozen food player Prasuma
KOLKATA: Diversified conglomerate ITC has signed definitive agreements for acquisition of Prasuma — one of the leading players in the frozen, chilled and ready to cook food space in India. This would be the fifth major acquisition in the FMCG space in 7-8 years by ITC,
Frozen food feast: ITC bites into momo-maker Prasuma
This acquisition will further fortify ITC’s presence in these future-facing categories, with current annual market size of over ₹10,000 crore and poised for rapid growth in the years ahead.
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