India’s id Fresh Food Gets Apax Backing

Credit: iD Fresh Food / Facebook

India nutrient and drinks business iD Fresh Food has attracted finance from costs advised by Apax Partners.

The paneer and paratha supplier said nan finance will let it to “accelerate growth”.

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Based successful Bengaluru, iD Fresh Food markets refrigerated, ready-to-cook, Indian nutrient products. It besides sells a scope of java lines.

The company, group up successful 2005, says it distributes to much than 50 cities crossed India and nan Gulf states.

The Apax costs person struck a woody to get “a important number stake” from existing shareholders Premji Invest and TPG NewQuest. They will stay investors alongside nan company’s co-founder, PC Musthafa, and its guidance team.

Musthafa, who is besides iD Fresh Food’s CEO, said: “This business marks a defining infinitesimal successful iD Fresh’s journey. The Apax Funds’ finance will let america to accelerate growth, build capacity, broaden our merchandise scope and standard into much cities and markets.”

Without disclosing elaborate figures, iD Fresh Food said “over nan past fewer years” it had generated “consistent and profitable growth”. It employs astir 2,400.

Harjot Dhaliwal, a partner astatine Apax and caput of its business successful India, said: “iD Fresh has delivered strong, accordant maturation successful large, under-penetrated markets. We will activity intimately pinch nan guidance squad and leverage our consumer-packaged equipment expertise to accelerate growth, including expanding distribution into caller cities and channels, strengthening nan marque done trading and category-building, driving invention successful adjacent merchandise categories and utilizing exertion and analytics to optimise nan company’s fresh, daily-delivered proviso chain.”