From Our Correspondent
Hyderabad: Heritage Foods Ltd has announced the acquisition of a majority stake in the Get-A-Way ice cream brand, expanding its footprint in the high-protein, low-sugar dessert category. The company will acquire a 51% stake in Peanut Butter and Jelly Pvt. Ltd., the owner of the Get-A-Way brand, from Skygate Hospitality Pvt. Ltd. for ₹9 crore.
Following the acquisition, Peanut Butter and Jelly Pvt. Ltd. will become a subsidiary of Heritage Foods. The process is expected to be completed within 45 days, the company said. The remaining 49% stake will continue to be held by the existing promoters, who will manage operations for a transition period. Heritage Foods plans to acquire an additional 20% stake by March 2026, based on the company’s valuation at that time.
Over the past three financial years, Peanut Butter and Jelly Pvt. Ltd. has reported revenues of ₹7.89 crore, ₹14.80 crore, and ₹18.08 crore respectively. The company specializes in producing sugar-free, high-protein ice creams and desserts, catering to the growing health-conscious segment of Indian consumers.
“This acquisition will help us diversify our product portfolio and strengthen our presence in the value-added dairy and frozen dessert space,” said Brahmani Nara, Executive Director, Heritage Foods.