ITC Limited has announced its partnership with Prasuma, India’s top brand in the frozen, and ready-to-cook foods sector. ITC’s plan to increase its market share in the Rs 10,000 crore frozen foods sector is a significant step in this acquisition. The company will invest Rs 187 crore by April 2027, to acquire a 62.5% share in Prasuma. Later on, the remaining 37.5% stake’s valuation will be determined. Over three years, the acquisition will take place in several stages.
Why Prasuma?
Prasuma is well-known for its premium frozen momos, baos, Korean fried chicken, and deli meats under the ‘Meatigo’ brand. It has a strong presence across online and offline retail channels in over 100 cities and plans to expand into cloud kitchens with ‘Prasuma Momo Kitchen’ outlets. Prasuma reported an annual revenue run rate of approximately Rs 200 crore, with a consolidated turnover of Rs 131 crore.
ITC Director Hemant Malik was excited about the acquisition, saying that they are happy to support Prasuma and work together to create an unmatched full-stack frozen, chilled, and ready-to-cook food portfolio. ITC’s plan to increase its footprint in rapidly expanding consumer segments is in line with this investment.
The Future Prospects of Prasuma
Established as a family enterprise, Prasuma has expanded under Lisa Suwal and Siddhant Wangdi, who are a dedicated couple and aim in re-inventing the frozen food market in India. Prasuma has marked its presence in the industry for manufacturing frozen momos that are free from preservatives utilizing cutting-edge freezing technology.
To ensure that the consumers receive unique flavors and high-product quality, the brand manufactures products in-house. Its direct-to-consumer platform, ‘Meatigo by Prasuma,’ delivers exclusive products within 30 minutes across major Indian cities.
Lisa Suwal, CEO of Prasuma, highlighted the significance of this acquisition, stating, that they are extremely proud of what they have built and excited to join hands with ITC to drive the next phase of growth for Prasuma. Co-founder Siddhant Wangdi added, that frozen food is the category of the future and this collaboration will create significant value for stakeholders and consumers alike in India and globally.
ITC entered the frozen foods segment in 2019 with its ‘ITC Master Chef’ brand, offering a variety of frozen Indian and Western snacks. With this agreement, ITC aims to build its position as a major player in the growing frozen foods market and enhance its integration between ITC Master Chef and Prasuma.
Date- 23th Feb, 2025 Time- 10 AM to 5 PM Fee – Rs 1180
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