Prasuma, a leading player in the frozen, chilled and ready to cook foods space in India, promoted by Lisa Suwal and Siddhant Wangdi, wife and husband duo, has said that it has signed a definitive agreement for acquisition by ITC.
Prasuma disrupted the frozen food category with the launch of their iconic Momos, offering high quality, preservative-free and delicious frozen Momos that quickly won the hearts of food lovers nationwide. Since then, Prasuma has continued introducing a range of first-to-market products dominating the Pan-Asian and the Deli Meats space.
Prasuma now has a presence in over 100 cities across all online, offline channels and cloud kitchens. Its own direct-to-consumer channel ‘Meatigo by Prasuma’ offers a curated selection of exclusive products, delivering within 30 minutes across major cities in India.
“We are extremely 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 own 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, the company stated.
