View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
January 6, 2020

Indian ice-cream firm Dinshaw’s Dairy Foods ‘in takeover talks’

Indian ice-cream business Dinshaw's Dairy Foods is reportedly in talks to sell up to a major US private-equity firm.

By Dean Best

Indian ice-cream business Dinshaw’s Dairy Foods is reportedly in talks to sell up to Bain Capital, a major US private-equity firm.

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.

Bain Capital is in discussions to buy Dinshaw’s in a deal that could value the Nagpur-based ice-cream supplier at INR8-9bn (US$111.3-125.2m), business publication Live Mint reported before Christmas, citing two unnamed sources.

Dinshaw’s, set up in 1932, is co-owned by the Rana and Bapuna families. The Bapuna family became a shareholder in Dinshaw’s in 2002 when the Rana family merged the ice-cream business with the Bapuna’s distillery company.

Based in Nagpur in central India, Dinshaw’s products are available in more than 6,000 outlets in 13 states. The company’s portfolio also includes other dairy items such as ghee, as well as packaged bakery products.

Bain Capital had not returned a request for comment at the time of writing. Officials at Dinshaw’s could not be reached out of office hours for comment.

According to research from just-food parent GlobalData, the value of India’s ice cream sector is expected to grow from INR121.4bn in 2018 to INR213.6bn by 2023, at a CAGR of 12%.

In volume terms, the sector is expected to grow from 557.3 million kg in 2018 to 834.8 million kg by 2023, registering a CAGR of 8.4%.

Per capita consumption of ice cream in India stood at 0.4kg in 2018 and is expected to reach 0.6kg by 2023, GlobalData forecasts.

GlobalData lists India’s Gujarat Cooperative Milk Marketing Federation (GCMMF), Unilever and US-based business Wells Enterprises as the three companies in the Indian ice cream sector. GCMMF had a market share by value of 24.5% in 2018, while Unilever and Wells held shares of 16.3% and 12.8% respectively.

By individual brand, GCMMF’s Amul topped the list with a market share of 24.5% in 2018, with Wells’ Vadilal second at 12.8%, the data shows. The Dinshaw’s brand had a market share of 0.5% in 2018, GlobalData says.

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