Diversified conglomerate ITC has signed definitive agreements to acquire a majority stake in Prasuma, a leading player in India’s frozen, chilled, and ready-to-cook food segment. This marks ITC’s fifth major acquisition in the fast-moving consumer goods (FMCG) space in the past seven to eight years, following Savlon, Nimyle, Sunrise, and Yogabar.
Under the agreement, ITC will initially acquire a 43.8% stake in Prasuma for ₹131 crore, valuing the company at nearly ₹300 crore. The transaction, which includes both primary and secondary share purchases, is expected to be completed by March 2025, subject to regulatory approvals. ITC’s stake is set to increase to 62.5% by April 2027 through an additional investment of ₹56 crore, with plans to acquire full ownership within three years.
Prasuma, known for its expertise in oriental cuisine, delicatessens, and raw meat, offers a portfolio of over 170 products. The brand has introduced several first-to-market frozen products, including baos, Korean fried chicken, and schezwan momo meals. With a presence in over 100 cities through online and offline channels, Prasuma has achieved an annual revenue run rate of approximately ₹200 crore.
The acquisition aligns with ITC’s ‘Next’ strategy, aimed at expanding its footprint in high-growth categories. ITC’s whole-time director Hemant Malik stated that the company plans to build a comprehensive frozen, chilled, and ready-to-cook foods portfolio with innovative, health-conscious offerings.
Prasuma’s leadership, including CEO Lisa Suwal and COO Siddhant Wangdi, expressed enthusiasm for the partnership, highlighting ITC’s role in driving the brand’s next phase of growth.
With this acquisition, ITC aims to strengthen its presence in the evolving frozen foods market, leveraging Prasuma’s innovation capabilities and expanding its product portfolio to cater to changing consumer preferences.