PE-VC Fund Investments
Potato-based snacks seller Iscon Balaji Foods raises $70-M from 360 ONE Asset
Ahmedabad-based Iscon Balaji Foods (IBF) has received USD 70 million from 360 ONE Asset, a subsidiary of 360 ONE WAM. Avendus Capital acted as the exclusive financial advisor to IBF for this transaction.Founded in 2013, IBF operates a fully integrated, export-orientated platform covering seed development, farmer partnerships, large-scale processing, and global distribution. It was initially supported by the JP Iscon family and the Balaji Wafers family. Over the past decade, IBF has grown into one of the world’s top 10 frozen potato processors, serving Quick Service Restaurant (QSR) and foodservice clients across India, Southeast Asia, the Middle East, and the Far East.The company plans to use the new investment to expand its farmer network from over 10,000 to more than 25,000 farmers within three years. Additionally, the funds will support significant capacity expansion, strengthen farmer-linked supply chains, upgrade processing and cold-chain infrastructure, launch new value-added product lines, and facilitate expansion into additional international markets.
For FY24, Iscon Balaji Foods had reported about INR 1,186 Cr in Operating Income and about INR 263 Cr in PAT.
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