Apax Partners Injects Fresh Capital into iD Fresh Foods for Expansion

Apax Partners has invested over Rs 1,500 crore in iD Fresh Foods, acquiring a significant minority stake. The investment aims to boost growth, expand product range, and enter new markets. iD Fresh Foods, known for its fresh and honest food offerings, operates across 50 cities in India and the Gulf.

Global private equity giant Apax Partners has injected over Rs 1,500 crore into Bengaluru-based iD Fresh Foods, securing a substantial minority stake in the company, officials announced on Monday.

Apax Partners' funds now hold over 35 per cent of iD Fresh Foods, acquired from existing shareholders Premji Invest and TPG NewQuest. The selling stakeholders will continue as investors alongside co-founder PC Musthafa and his cousins, although financial specifics of the deal remain undisclosed.

Founded in 2005, iD Fresh Foods has achieved double-digit operating profit margins with a 25 per cent growth rate over the years. Expanding from supplying idli/dosa batter locally, it now reaches over 50 cities across India and the Gulf, employing nearly 2,400 people. The Apax investment is set to boost growth, enhance product range, and broaden market reach.

(With inputs from agencies.)