Leading fast-moving consumer goods (FMCG) companies are competing for a potential stake in Farmley as established players look to strengthen their presence in India’s growing healthy snacking market.
Emami, ITC, Britannia and Orkla India are among the companies reportedly interested in the dry fruits and nuts brand, according to people familiar with the discussions. The proposed transaction could value Farmley at around ₹2,000 crore.
A group of early investors holding a combined 31% stake has put its shares up for sale. The founders, Akash Sharma and Abhishek Agarwal, together own 32% of the company. It remains unclear whether they will also sell their holdings, leaving open the possibility of a majority stake transaction.
Farmley is exploring options ranging from a minority stake sale to a majority divestment. KPMG is advising the early investors, with preliminary bids expected by the end of October, according to the report.
Investors weigh exit options
The early investors include Omnivore Partners, DSG Consumer Partners, Alkemi Growth Capital, Insitor Partners, Indigram Labs and Trifecta Capital. L Catterton, which invested approximately ₹194 crore in Farmley in 2025, holds a 21% stake and is unlikely to participate in the proposed sale.
L Catterton acquired its holding through a Series C funding round that valued Farmley at ₹944 crore. The ₹223-crore round also allowed some existing investors to partially exit, while DSG Consumer Partners increased its stake.
Revenue set to cross ₹700 crore
Founded in 2017 by IIT alumni Akash Sharma and Abhishek Agarwal, Farmley initially operated as a business-to-business supplier of dry fruits and nuts to retail businesses. In 2021, it shifted towards a consumer-facing direct-to-consumer model, building a brand around packaged nuts, dry fruits and healthier snacking options.
The company reported revenue of ₹396 crore in FY25, up 72% from ₹230 crore in FY24. It is expected to generate ₹700–750 crore in revenue in FY27, according to sources cited in the report.
Online channels, including e-commerce platforms and quick-commerce services, account for approximately 80% of its revenue, highlighting the importance of digital distribution in its growth strategy.
Healthy snacking attracts FMCG interest
The potential deal reflects growing interest among FMCG companies in acquiring emerging food brands rather than developing new businesses from scratch. Healthy snacks, premium packaged foods and convenience-led products offer established players opportunities to tap into evolving consumer preferences and expand their portfolios.
A transaction involving Farmley could provide a strategic buyer with an established brand, a substantial digital sales presence and a platform for further expansion in the competitive Indian snacking market.
The final structure and valuation of the deal will depend on the level of buyer interest and whether the proposed sale remains a minority investment or expands into a change of control.