Transaction Overview
Global private equity firm Apax Funds has acquired a significant minority stake in iD Fresh Food, a Bengaluru-based company that makes ready-to-cook packaged food products. The stake was purchased from existing investors Premji Invest and TPG NewQuest, both of which will continue to back the company alongside its founders. Financial terms of the deal were not disclosed.
Background to the Deal
Mint had earlier reported Apax’s interest in November, noting discussions to acquire around a 30 percent stake for approximately ₹1,200 crore, potentially valuing iD Fresh between ₹4,000 crore and ₹4,500 crore. The companies did not comment on valuation details.
Strategic Rationale
Apax said the investment will support iD Fresh’s next phase of growth in India and overseas markets. Rohan Haldea, partner at Apax, said the firm will work closely with the management team to expand distribution, strengthen the brand, drive product innovation and optimise the company’s fresh supply chain using technology and analytics.
Founder Perspective
P.C. Musthafa, co-founder of iD Fresh Food, said the investment would help accelerate capacity expansion, broaden the product portfolio and scale the business into more cities and markets. The deal comes at a time when competition in the ready-to-eat and ready-to-cook segment is intensifying, amid strong consumer preference for fresh, home-style food.
Company Profile
Founded in 2005 in Bengaluru, iD Fresh started with idli and dosa batter supplied to local retailers. The company operates a daily, direct-to-retailer cold-chain model that enables preservative-free products with a refrigerated shelf life of five to seven days.
Scale and Market Position
Over the years, iD Fresh has expanded to more than 50 cities across India and the Gulf region. The company claims a 50–60 percent share in the branded batter category and offers products including batters, Indian flatbreads, chutneys, sambar and value-added dairy items.
Keep building. Keep learning. Keep growing with StartupByDoc.