PE-VC Fund Investments
Frozen potato fries seller Iscon Balaji Foods raises $150-M from Advent International
Global private equity firm Advent International has invested USD 150 million in Ahmedabad-based frozen food maker Iscon Balaji Foods in return for a significant minority stake. Avendus Capital served as the exclusive financial advisor for the transaction.Founded in 2012 by Neel Kotak, Iscon Balaji Foods sells frozen potato products, including french fries, hash browns, and coated fries. The company supplies to quick-service restaurants and food-service distributors across India, rest of Asia, and Australia.The new capital will be used to fund significant capacity expansion, deepen farmer-linked supply chains, upgrade processing and cold-chain infrastructure, launch new value-added product lines, and expand into more markets globally.
In Jan 2026, Iscon Balaji Foods had attracted about $70-M from 360 ONE.For FY25, Iscon Balaji Foods had reported about INR 1,489 Cr in Operating Income and about INR 165 Cr in PAT.
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