Dairy major Heritage Foods Ltd has announced the acquisition of a 51% stake in Peanut butter and Jelly Pvt Ltd, the parent company of health-focused ice cream brand Get-A-Way, for ₹9 crore. The deal marks Heritage Foods’ strategic foray beyond traditional dairy into the rapidly growing functional and health food space.
The transaction, subject to the conditions outlined in the share purchase agreement, is expected to be completed within 45 days of board approval. Following the acquisition, Get-A-Way will become a subsidiary of Heritage Foods.
As part of the agreement, Heritage Foods will enter into a share purchase deal with Sky Gate Hospitality Pvt Ltd, which currently holds the 51% stake being acquired. The company will also execute a definitive agreement with Peanut butter and Jelly Pvt Ltd and its promoters.
The remaining 49% stake in the company will continue to be held by the existing promoters, who will retain operational control. Heritage Foods also plans to acquire an additional 20% stake from the promoters after March 2026, based on the prevailing valuation at that time.
Founded in 2018, Get-A-Way has carved a niche in India’s premium dessert market with its high-protein, no-added-sugar ice creams and desserts, appealing to health-conscious consumers. The brand uses whey protein and natural sugar alternatives instead of conventional sweeteners.
Peanut Butter and Jelly Pvt Ltd reported revenues of ₹7.89 crore in FY23, ₹14.8 crore in FY24, and ₹18.08 crore in FY25, reflecting strong growth momentum.
“This partnership brings together our three decades of dairy expertise and manufacturing excellence with Get-A-Way’s innovative product portfolio,” said Brahmani Nara, Executive Director of Heritage Foods. She added that the acquisition aligns with the company’s Vision 2030 strategy to expand into functional foods and value-added categories.
Commenting on the development, Jash Shah, Co-founder and CEO of Get-A-Way, said, “With Heritage Foods’ manufacturing scale and distribution strength, we are poised to expand our footprint across India.”
The acquisition underlines Heritage Foods’ intent to tap into India’s fast-growing health and wellness segment, leveraging its extensive distribution network to accelerate the reach of Get-A-Way’s product line across key urban markets.