DSM Fresh Foods Limited, the parent company of Zappfresh, has acquired the operating business of Ambrozia Frozen Food through Avyom Foodtech, marking its strategic entry into the ready-to-eat (RTE), ready-to-cook (RTC), and international packaged foods segments.
As part of the transaction, DSM Fresh Foods is acquiring a 76 per cent stake in Avyom Foodtech through a primary investment of ₹8 crore, while Managing Director Deepanshu Manchanda will hold the remaining 24 per cent with an infusion of ₹2 crore. The acquired business recorded revenues of ₹13 crore in FY25 and is currently operating at an annual run rate of about ₹16 crore, with an enterprise valuation of approximately ₹25 crore.
The acquisition strengthens DSM Fresh Foods’ capabilities in processed foods and exports, enabling the company to build a broader portfolio spanning both meat and non-meat categories under the Meevaa Foods brand for domestic and international markets.
The deal also includes a five-acre manufacturing facility in Panchkula with a built-up area of 30,000 sq ft. The plant has the potential to scale up to ₹200 crore in revenue and produce more than 150 SKUs across soups, desserts, and RTC and RTE product formats. Currently, only about a quarter of the facility’s capacity is being utilized.
Under the Meevaa brand, DSM Fresh Foods plans to introduce 15–20 RTE products—including momos, spring rolls, and gravies—for online consumers, while exporting packaged variants to international marketplaces such as Amazon in Europe and Noon in the Middle East. Meevaa already has a presence across the Middle East, Saudi Arabia, the UK, Europe, and the United States, with global operations expected to contribute around 20 per cent of overall revenues.
The company expects the new business vertical to contribute about 15 per cent to total revenues in the next fiscal year, scaling to 30–40 per cent over the following two to three years. DSM Fresh Foods, which has been growing at 50–60 per cent annually, is also pursuing a broader roll-up strategy to build a multi-category food conglomerate through synergistic acquisitions and inorganic expansion.