Bengaluru-based clean-label brand plans expansion across India and Gulf markets after strategic investment
iD Fresh Food has raised funding from Apax Partners, which will acquire a minority stake in the Bengaluru-based clean-label food brand. The stake includes shares from existing investors Premji Invest and TPG NewQuest, who will continue to hold positions alongside co-founder PC Musthafa and his cousins, according to a company statement.
According to a media source, Apax has acquired more than a 35 per cent stake in iD Fresh for over Rs 1,500 crore.
Founded in 2005, iD Fresh is best known for its dosa and idli batter. Its product range has since expanded to include Indian flatbreads, accompaniments such as chutneys and sambar, and value-added dairy products.
The company claims it controls an estimated 50–60 per cent share in its core categories. Over the past few years, iD Fresh has posted steady, profitable growth, supported by double-digit Ebitda margins and overall expansion of 25 per cent.
“The Apax Funds’ investment will allow us to accelerate growth, build capacity, broaden our product range, and scale into more cities and markets,” Musthafa said.
iD Fresh currently distributes products in more than 50 cities across India and the Gulf region and employs nearly 2,400 people.
Harjot Dhaliwal, Partner and Head of India, Apax, said: “We will work closely with the management team and leverage our consumer packaged goods expertise to accelerate growth, including expanding distribution into new cities and channels, strengthening the brand through marketing and category-building, driving innovation in adjacent product categories, and using technology and analytics to optimise the Company’s fresh, daily-delivered supply chain.”
Looking ahead, iD Fresh aims to build on its momentum in the coming financial year through deeper penetration in domestic and international markets, new product launches, faster channel expansion, and growing consumer preference for fresh, convenient, clean-label food options.
