Backing India’s largest value-added potato processor for global expansion
360 ONE Asset, a wholly owned subsidiary of 360 ONE WAM, has announced an investment of around $70 million in Iscon Balaji Foods (IBF), India’s largest potato processor and exporter of value-added potato products.
Building an integrated agri–food platform
Founded in 2013, Iscon Balaji Foods operates a fully integrated, export-oriented model, spanning proprietary seed development, long-term farmer partnerships, large-scale processing, and global distribution. The company was initially backed by the JP Iscon family and the Balaji Wafers family, which helped establish and scale its vertically integrated operations.
Over the past decade, IBF has emerged as one of the top 10 frozen potato processors globally, supplying leading quick-service restaurant (QSR) and foodservice customers across India, Southeast Asia, the Middle East, and the Far East.
Capital to fuel next phase of growth
The fresh investment will support IBF’s next growth phase, including capacity expansion, deeper farmer-linked supply chains, upgrades to processing and cold-chain infrastructure, the launch of new value-added potato products, and entry into additional international markets.
As part of this expansion, IBF plans to grow its farmer network to over 25,000 farmers over the next three years. Currently, the company partners with more than 10,000 farmers through contract farming and seed development programmes, enabling consistent quality, traceability, and higher on-farm productivity.
Long-term institutional partnership
Neel Kotak, Managing Director and CEO of Iscon Balaji Foods, said the partnership with 360 ONE Asset brings long-term institutional capital aligned with the company’s ambition to build a globally competitive food processing platform from India.
Avendus Capital acted as the exclusive financial adviser to IBF on the transaction, while 360 ONE Asset highlighted the investment as part of its strategy to back scaled consumer category leaders with strong execution and global potential.
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