ITC’s strategic acquisition of Prasuma aims to dominate the fast-growing frozen, chilled, and ready-to-cook food market in India
In a strategic move to strengthen its presence in the rapidly growing frozen, chilled, and ready-to-cook foods market, ITC has signed definitive agreements to acquire Prasuma, a leading player in the segment. The acquisition will enable ITC to expand its portfolio in high-growth categories like Pan Asian foods, deli meats, and innovative ready-to-cook products.
Prasuma, known for its flagship brands like ‘Prasuma Momos’, ‘Meatigo by Prasuma’, and ‘Prasuma Momo Kitchen’, offers over 170 products, including momos, baos, Korean fried chicken, and Japanese fried rice. With a strong presence in 100+ cities and an annual revenue run rate of Rs. 200 crore, Prasuma has carved a niche in the frozen foods market.
ITC, which entered the frozen foods segment in 2019 under its ‘ITC Master Chef’ brand, will acquire 100% of Prasuma’s stake over three years. The first tranche of 43.8% will be acquired upfront, with the remaining stake to be acquired by June 2028. This acquisition aligns with ITC’s ‘ITC Next’ strategy, aimed at building a future-ready portfolio to meet evolving consumer needs.
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Hemant Malik, Whole-time Director of ITC Limited, stated, “We are delighted to back Prasuma and look forward to jointly building an unparalleled, full-stack frozen, chilled, and ready-to-cook foods portfolio.”
Lisa Suwal, CEO of Prasuma, expressed excitement about the partnership, saying, “ITC shares our commitment to quality and innovation, making them the perfect partner. This collaboration will create significant value for consumers in India and globally.”
With the frozen foods market in India poised for rapid growth, this acquisition positions ITC as a dominant player in the segment, offering a diverse range of products for every consumption occasion.