Krishival Foods Ltd. which is into nuts and dried food segment has announced the acquisition of 52.94% stakes in ice cream manufacturer Melt ‘N’ Mellow Foods Private Ltd. for an unspecified amount.
The company manufactures varieties of Ice-creams under the brand ‘Melt N Mellow’ and milk products under the brand ‘Hamma’. .
The products of company are available through 20,000 retailers across Maharashtra and North Karnataka. Melt ‘N’ Mellow had sales of ₹28.38 crore for FY23 and ₹37.28 crore for FY24. (unaudited).
Aparna Bangar, CMD, Krishival Foods Ltd., said, “This strategic acquisition is a significant building block for value creation for our shareholders through profitable sustainable growth over the long term.”
“This acquisition aligns with the company’s vision to emerge as overarching FMCG player in aspirational food products and diversify its business operations aligning with this vision,” she said.
Published – September 17, 2024 10:14 pm IST
