DSM Fresh Foods Acquires Majority Stake in Avyom Foodtech to Expand Global Reach

DSM Fresh Foods has acquired a 51% stake in Avyom Foodtech with a Rs 7.5 crore cash infusion to enter the ready food solutions segment and expand internationally. The acquisition includes a food processing facility, and the company plans to potentially bring in external investors to support growth.

DSM Fresh Foods, under the brand Zappfresh, announced its acquisition of a 51% stake in Avyom Foodtech, marking a strategic move into the ready food solutions sector.

This acquisition, completed through a cash infusion of approximately Rs 7.5 crore, positions DSM Fresh Foods to explore overseas export markets, as confirmed in a company statement. The board has approved this controlling stake acquisition, which includes a food processing facility and necessary machinery.

Initially incorporated as IEY Education in 2022, Avyom Foodtech specializes in ready-to-eat and ready-to-cook food products. CEO Deepanshu Manchanda emphasized the acquisition's role in expediting their timeline while maintaining fiscal discipline. Shares of DSM Fresh Foods closed at Rs 140.50 on BSE, experiencing a 2.53% decline.

(With inputs from agencies.)