ITC has signed definitive agreements to amass Prasuma, a ready-to-cook meals model in India. Prasuma is a frozen meals model, expanded by Lisa Suwal and Siddhant Wangdi.
Superior freezing know-how helps frozen meals retain freshness, generally higher than freshly cooked meals. Prasuma makes use of this know-how to take care of style and high quality. Prasuma entered the frozen meals market with preservative-free frozen momos, it has since expanded into Pan-Asian and deli meats merchandise. Prasuma has delivered worthwhile progress since inception with out elevating any exterior funding.
Prasuma operates in 100+ cities by on-line, offline channels, and cloud kitchens. Its direct-to-consumer platform, “Meatigo by Prasuma,” delivers merchandise inside half-hour in main Indian cities. Prasuma manufactures all its merchandise in-house to take care of high quality and develop flavours suited to Indian shoppers nationwide.
“We’re extraordinarily happy with what we have now constructed and excited to affix palms with ITC to drive the following section of progress for Prasuma. The overwhelming assist and love for our merchandise from shoppers have all the time impressed us. ITC shares our dedication to high quality and innovation, making them the proper companion. This collaboration isn’t only a enterprise transaction— it’s the end result of our lifelong ardour for distinctive meals, a dream that started proper in our kitchen.” mentioned Lisa Suwal, CEO, Prasuma and Meatigo
“Frozen meals is undeniably the class of the longer term. With Prasuma’s energy in manufacturing and innovation mixed with ITC’s experience in distribution and constructing new-age manufacturers, we’re excited in regards to the potential of this partnership. Collectively, we imagine this collaboration will create vital worth for stakeholders and shoppers alike in India and globally – revolutionizing the frozen meals trade with high quality, comfort, and most significantly tasty meals.” added Siddhant Wangdi, COO, Prasuma and Meatigo
Ernst & Younger acted because the unique funding banker and Shardul Amarchand Mangaldas & Co. acted because the unique authorized counsel to Prasuma and its shareholders on this transaction.
Written with the View : afaqs