ITC has signed definitive agreements for the acquisition of Prasuma, a leading player in the frozen, chilled, and ready-to-cook foods space in India. Prasuma is one of India’s fastest-growing, innovation-led, frozen food brands. This family business has been scaled up by Lisa Suwal and Siddhant Wangdi, a wife and husband duo who have built a portfolio of products in the frozen food category in India.
Prasuma leverages freezing technology to preserve freshness. Prasuma entered the frozen food category with the launch of their momos. Since then, Prasuma has continued introducing a range of first-to-market products in the pan-Asian and the Deli Meats space.
Prasuma now has a presence in 100+ cities across all online, and offline channels and cloud kitchens. Its direct-to-consumer channel ‘Meatigo by Prasuma’ offers a curated selection of exclusive products, delivered within 30 minutes across major cities in India. Prasuma manufactures all its products in-house.
“We are proud of what we have built and excited to join hands with ITC to drive the next phase of growth for Prasuma. The overwhelming support and love for our products from consumers have always inspired us. ITC shares our commitment to quality and innovation, making them the perfect partner. This collaboration isn’t just a business transaction— it’s the culmination of our lifelong passion for exceptional food, a dream that began right in our kitchen,” said Lisa Suwal, CEO, Prasuma & Meatigo
“Frozen food is undeniably the category of the future. With Prasuma’s strength in manufacturing and innovation combined with ITC’s expertise in distribution and building new-age brands, we are excited about the potential of this partnership. Together, we believe this collaboration will create significant value for stakeholders and consumers alike in India and globally – revolutionizing the frozen food industry with quality, convenience, and most importantly tasty food,” added Siddhant Wangdi, COO, Prasuma & Meatigo
Ernst & Young acted as the exclusive investment banker and Shardul Amarchand Mangaldas & Co. acted as the exclusive legal counsel to Prasuma and its shareholders on this transaction.
