View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
May 28, 2019

India snack firm Bikaji Foods gets new investor

Bikaji Foods International, an India-based snacks supplier, has a new shareholder following the sale of equity from an existing investor.

By Dean Best

Bikaji Foods International, an India-based snacks supplier, has a new shareholder following the sale of equity from two existing investors.

Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

A fund under the umbrella of Indian financial services group Avendus Asset Management has taken a “minority stake” in Bikaji Foods from private-equity firm Lighthouse and another investor, Intensive Softshare.

Bikaji Foods, set up in 1987, manufactures branded Indian ethnic snacks with a product range including bhujia, namkeen and papad, as well as western snacks. Avendus said the firm has established “a national distribution footprint”.

Announcing the transaction – for which financial terms were not disclosed – Avendus said its Avendus Future Leaders Fund focuses on backing “best-of-breed, market-leading, late-stage private companies” in the consumer and financial services sectors.

Ritesh Chandra, managing partner and head of the fund, said: “Bikaji has established itself as a leading company in the Indian ethnic snacks segment with a sizable market share, profitability and a platform geared for growth. With pan-India presence and favourable macro tailwinds, the company is expected to grow rapidly in the coming years.”

Deepak Agarwal, a director at Bikaji Foods, said the firm’s new investor was backing the business on an “exciting journey of tapping into the huge potential offered by the Indian packaged food industry”.

Related Companies

Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food