**Apax Funds Acquires Minority Stake in iD Fresh Food**
Global private equity firm Apax Funds has secured a significant minority stake in iD Fresh Food, a company specializing in ready-to-cook packaged food products. The investment was made from existing shareholders Premji Invest and TPG NewQuest, both of whom will continue to support the company alongside co-founder P.C. Musthafa and his cousins. The financial details of the transaction have not been disclosed.
This investment follows reports from November indicating Apax’s interest in acquiring approximately a 30% stake in iD Fresh for around ₹1,200 crore, which would value the company between ₹4,000 and ₹4,500 crore. Rohan Haldea, a partner at Apax, stated that this investment will facilitate iD Fresh’s next phase of growth both in India and internationally.
Musthafa expressed that Apax Funds’ investment will enable the company to accelerate its growth, enhance capacity, expand its product range, and penetrate more cities and markets. This comes at a time when the ready-to-eat market faces challenges due to increasing competition and India’s strong preference for fresh, home-cooked meals.
Harjot Dhaliwal, partner and head of India at Apax, emphasized the firm’s commitment to working closely with iD Fresh’s management team. The focus will be on leveraging expertise in consumer packaged goods to drive growth, expand distribution, strengthen the brand through marketing, foster innovation in adjacent product categories, and optimize the supply chain using technology and analytics.
Founded in 2005 in Bengaluru, iD Fresh aims to provide fresh, preservative-free, traditionally prepared Indian food on a large scale. Initially supplying idli/dosa batter to local retailers, the company has developed a direct-to-retailer cold-chain model that ensures clean-label fresh products with a refrigerated shelf life of five to seven days.
Over the years, iD Fresh has expanded its reach to over 50 cities across India and the Gulf, claiming to be the largest ready-to-cook fresh foods brand in India, with a market share of approximately 50-60% in its core categories. Its product portfolio includes idli/dosa batter, Indian flatbreads, chutneys, sambar, and value-added dairy products.
Looking ahead, iD Fresh anticipates further growth in the upcoming financial year through deeper market penetration, innovative product offerings, accelerated channel expansion, and an increasing consumer preference for fresh, convenient, clean-label food solutions.
**FAQ**
**What is iD Fresh Food known for?**
iD Fresh Food is recognized for its ready-to-cook packaged food products, including idli/dosa batter and Indian flatbreads, focusing on fresh, preservative-free offerings.
