In a strategic move to bolster its presence in the frozen and ready-to-cook food sector, ITC Ltd. has announced definitive agreements to acquire Prasuma, a prominent player in India’s frozen, chilled, and ready-to-cook foods market. The acquisition will be executed over a three-year period, with ITC initially acquiring a 43.8% stake for ₹131 crore, followed by incremental purchases leading to full ownership by June 2028.
Prasuma, renowned for its innovative product range, offers over 170 items, including momos, baos, Korean fried chicken, high-quality delicatessens, and raw meats. The brand operates under ‘Prasuma’, ‘Meatigo by Prasuma’, and ‘Prasuma Momo Kitchen’, catering to a diverse consumer base across more than 100 cities through online platforms, offline retail channels, and cloud kitchens.
This acquisition aligns with ITC’s strategy to strengthen its footprint in the rapidly growing frozen and ready-to-cook foods segment, currently valued at over ₹10,000 crore in India. ITC’s Wholetime Director, Hemant Malik, expressed enthusiasm about the partnership, stating, “We are delighted to back Prasuma and look forward to jointly building an unparalleled, full-stack frozen, chilled, and ready-to-cook foods portfolio.”
The collaboration is expected to yield significant synergies, combining Prasuma’s expertise in product innovation with ITC’s extensive distribution network and brand-building capabilities. This move not only enhances ITC’s product portfolio but also positions the company to meet the evolving preferences of consumers seeking convenient and high-quality food options.
Prasuma’s CEO, Lisa Suwal, expressed confidence in the partnership, stating, “ITC shares our commitment to quality and innovation, making them the perfect partner. This collaboration isn’t just a business transaction—it’s the culmination of our lifelong passion for exceptional food.”
As the frozen and ready-to-cook food market in India continues to expand, ITC’s strategic acquisition of Prasuma underscores its commitment to catering to the dynamic tastes and preferences of modern consumers.
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