India’s iD Fresh Food gets Apax backing

India nutrient and drinks concern iD Fresh Food has attracted concern from funds advised by Apax Partners.

The paneer and paratha supplier said the concern volition let it to “accelerate growth”.

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

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

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

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

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

Harjot Dhaliwal, a spouse astatine Apax and caput of its concern successful India, said: “iD Fresh has delivered strong, accordant maturation successful large, under-penetrated markets. We volition enactment intimately with the absorption squad and leverage our consumer-packaged goods expertise to accelerate growth, including expanding organisation into caller cities and channels, strengthening the marque done selling and category-building, driving innovation successful adjacent merchandise categories and utilizing exertion and analytics to optimise the company’s fresh, daily-delivered proviso chain.”

"India’s iD Fresh Food gets Apax backing" was primitively created and published by Just Food, a GlobalData owned brand.

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