Heritage Foods has agreed to acquire a controlling interest in Peanutbutter and Jelly, the company behind the Get-A-Way dessert brand.
In a stock exchange disclosure, Heritage Foods said it will sign a share purchase agreement with Sky Gate Hospitality, which currently owns the 51% stake being bought, and will also enter a definitive agreement with Peanutbutter and Jelly and its promoters.
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The remaining 49% will stay with the original promoters.
However, the Rs90m ($1.02m) deal includes an option for Heritage Foods to acquire a further 20% from the promoters after March 2026 at what the company described as an “appropriate” valuation.
Heritage Foods said in a separate filing that the acquisition provides a “strong foothold in the super-premium, functional, and indulgence-balanced segment”.
Peanutbutter and Jelly curates and retails “healthy” dessert lines, primarily protein ice creams, keto desserts, and vegan ice pops.
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By GlobalDataIts products are sold via e-commerce, quick-commerce platforms and retail chains in India under the Get-A-Way brand.
Brahmani Nara, executive director of Heritage Foods, added: “The acquisition of Get-A-Way is well aligned with our Vision 2030 of becoming the most admired dairy nutrition company.
“Get-A-Way’s focus on protein, no-added-sugar, and health-forward offerings strengthens our commitment to delivering nutritious dairy solutions that resonate with evolving lifestyles, while leveraging Heritage Foods’ core expertise to accelerate the brand’s next phase of growth.”
Jash Shah, co-founder and CEO of Get-A-Way, said: “Joining the Heritage Foods family is a transformative milestone for us.
“With Heritage Foods’ manufacturing scale, distribution strength, and strategic guidance, we are poised to expand our footprint across India while maintaining the innovation and quality that define our brand.”
Peanutbutter and Jelly reported turnover of Rs78.9m in FY2022–23, Rs148m in FY2023–24 and Rs180.8m in FY2024–25.
Post-acquisition, operational management will remain with the promoters of Peanutbutter and Jelly, while Heritage Foods will retain the controlling stake and provide strategic oversight.
The transaction is expected to close within 45 days and does not require governmental or regulatory approvals.
