Zappfresh Seeks Majority Stake in GM Foods for ₹20 Crore
Zappfresh in talks for majority stake in GM Foods
The Economic Times
Image: The Economic Times
Zappfresh, a direct-to-consumer fresh meat delivery company based in New Delhi, is negotiating to acquire a majority stake in GM Foods, a Sonipat-based producer of ready-cook breakfast staples, for approximately ₹20 crore (around $2.4 million USD). This acquisition aims to enhance Zappfresh's competitive edge in the frozen snacks market.
- 01Zappfresh is in talks to acquire a majority stake in GM Foods for ₹20 crore.
- 02The deal would mark Zappfresh's fourth acquisition in four years.
- 03Zappfresh aims to compete against established brands like MTR and Catch spices.
- 04The acquisition follows recent expansions into frozen vegetarian snacks under Meevaa Foods.
- 05Zappfresh has previously acquired stakes in Ambrozia Frozen Foods, Bonsaro, and Dr Meat.
Advertisement
In-Article Ad
Zappfresh, a New Delhi-based direct-to-consumer fresh meat, seafood, and snacks delivery company, is in discussions to acquire a majority stake in GM Foods, located in Sonipat, Haryana, for approximately ₹20 crore (around $2.4 million USD). GM Foods specializes in ready-cook breakfast staples, spices, and dessert mixes. This potential acquisition is part of Zappfresh's strategy to strengthen its position in the competitive frozen snacks market, particularly against established brands such as MTR and Catch spices. If finalized, this deal would be Zappfresh's fourth acquisition in as many years, following its earlier purchases of a 51% stake in Ambrozia Frozen Foods for ₹7.5 crore (roughly $900,000 USD), as well as the online platforms Bonsaro and Dr Meat in 2023 and 2024, respectively. The move aligns with Zappfresh's recent launch of its vegetarian snacks line under the new label Meevaa Foods.
Advertisement
In-Article Ad
This acquisition could enhance Zappfresh's product offerings, potentially leading to increased competition in the frozen snacks market, which may benefit consumers through more variety and possibly lower prices.
Advertisement
In-Article Ad
Reader Poll
Do you think Zappfresh's acquisition of GM Foods will benefit consumers?
Connecting to poll...
Read the original article
Visit the source for the complete story.