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News on Medial
Pure non-vegetarian: Why ITC is acquiring frozen meats brands Prasuma, Meatigo
Livemint
·
5m ago
Medial
ITC Ltd is acquiring Prasuma and its subsidiary Meatigo, known for frozen momos and pork-based cold cuts, respectively, for around ₹187 crore in tranches, aiming for a 62.5% stake by 2027. This move enhances ITC’s presence in the ₹10,000 crore Indian frozen meat and ready-to-cook market. Prasuma has struggled with limited funding, making ITC’s investment timely, while complementing its Master Chef brand to expand in the high-growth frozen food market.
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ITC to buy firms behind frozen food brands Prasuma, Meatigo to beef up portfolio
VCCircle
·
5m ago
Medial
ITC Ltd plans to acquire frozen food companies Ample Foods Pvt. Ltd and Meat and Spice Pvt. Ltd, aiming to enhance its product portfolio in the rapidly growing frozen and ready-to-cook food market. With a strategic investment of Rs 187 crore, ITC will initially acquire 43.8% of Ample Foods by March 2027 and fully acquire both companies by June 2028. This move aligns with ITC’s strategy to capture emerging consumer demands and strengthen its market presence.
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Zomato launches separate fleet for pure vegetarian customers
IndianStartupNews
·
1y ago
Medial
Food delivery giant Zomato has launched the 'Pure Veg Fleet' and 'Pure Veg Mode' in response to the dietary preferences of India's large vegetarian population. 'Pure Veg Mode' filters out non-vegetarian restaurants on the Zomato app, making it easier for users to find purely vegetarian options. The 'Pure Veg Fleet' features green delivery boxes and ensures that vegetarian orders are exclusively handled and delivered by a dedicated fleet, preventing any mix-up with non-vegetarian meals. Zomato plans to introduce more specialized fleets to cater to specific customer needs in the future. The announcement has been well-received by netizens.
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Can ITC Foods replicate its Aashirvaad success?
Livemint
·
1m ago
Medial
ITC Foods is strategically extending its successful Aashirvaad brand into new categories while acquiring premium brands. Despite the competitive market, ITC aims to replicate the success of Aashirvaad atta, which significantly contributed to non-cigarette FMCG sales reaching nearly ₹22,000 crore in FY25. Historically, ITC has built few large-scale food brands, with Aashirvaad, Sunfeast, and Bingo leading its portfolio. The company's challenge lies in building and acquiring brands to match their high revenue figures.
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Zomato launches ‘Pure Veg Mode’ for vegetarian customers
Economic Times
·
1y ago
Medial
Food-delivery platform Zomato has introduced a "Pure Veg Mode" and a "Pure Veg Fleet" option for customers with a strict vegetarian dietary preference. This feature will curate and exclusively display restaurants that serve only vegetarian food, excluding those that offer non-vegetarian options. The move is aimed at catering to the specific demands of vegetarian customers who are particular about how their food is prepared and handled. Zomato is also planning to launch specialized fleets for other customer needs, such as a cake delivery fleet with hydraulic balancers to prevent damage during transportation.
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Frozen food feast: ITC bites into momo-maker Prasuma | Company Business News
Livemint
·
5m ago
Medial
ITC Ltd announced its acquisition of frozen food brand Prasuma to bolster its presence in high-growth food categories. The acquisition involves a complete buyout over three years, with an initial 43.8% stake for ₹131 crore and subsequent tranches increasing ITC's ownership. Prasuma's current management will stay on during this period. This move positions ITC as a leader in diverse meal and snack offerings and aligns with its strategy to expand in future-facing food categories.
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Zomato Pure Veg Row: Zoom call for 20 hours happened after announcement, says CE
Livemint
·
1y ago
Medial
Zomato's "pure veg" food delivery service, which exclusively enlisted restaurants offering vegetarian cuisine, faced backlash and caused a 20-hour Zoom discussion among top executives. The announcement led to concerns over potential discrimination and complications arising from different color schemes for vegetarian and non-vegetarian orders. As a result, Zomato removed the proposed separate green uniform initiative and clarified that the service would be indicated on the app but delivery partners would continue to wear the familiar red uniform. CEO Deepinder Goyal expressed gratitude for the feedback and emphasized that the service was based on dietary preferences, not religious or caste-related biases.
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Will Discontinue Veg Fleet If There’re Negative Results: Zomato
Inc42
·
1y ago
Medial
Food delivery platform Zomato has launched a 'Pure Veg Fleet' to cater to customers with vegetarian dietary preferences. The move received mixed reactions on social media, with some users criticising the decision and others supporting it. Zomato CEO Deepinder Goyal defended the initiative, stating that sometimes food spills and smells from non-vegetarian orders could seep into vegetarian orders, necessitating the need to separate the fleets. Goyal also assured that the new fleet would not discriminate based on the delivery partners' dietary preferences and stated that the company would roll back the initiative if it received significant negative social repercussions.
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Grapevine: ITC, Aditya Birla Group, NHAI InvIT, Morarjee Textiles in news
VCCircle
·
5m ago
Medial
ITC Ltd is reportedly ahead in acquiring a paper and pulp manufacturer from the Aditya Birla Group. Meanwhile, three parties are interested in acquiring the bankrupt Morarjee Textiles Ltd. Additionally, the infrastructure investment trust (InvIT) backed by the National Highways Authority of India (NHAI) aims to raise new capital.
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Ad isn’t created by us or any affiliate: Swiggy on viral post taking dig on Zomato pure veg fleet
Economic Times
·
1y ago
Medial
Swiggy has clarified that a viral advertisement targeting rival Zomato is not an authentic ad created by Swiggy or its affiliates. The ad, mocking Zomato's "pure veg" fleet, claimed that Swiggy's delivery fleet does not reveal customers' dietary preferences and does not have to pay for life insurance against mob attacks. Zomato faced backlash for introducing a separate vegetarian fleet, leading CEO Deepinder Goyal to announce the removal of on-ground segregation using the color green. Critics argued that this decision could perpetuate caste segregation and create complications with landlords and housing associations.
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Ayodha allows KFC to open an outlet in the city with a twist: no non-veg menu allowed
IndianStartupNews
·
1y ago
Medial
Ayodhya, a prominent pilgrimage site in India, is seeing a surge in tourism following the opening of the Ram Mandir. The city administration has set a unique condition for food chains looking to establish themselves in the area: they must serve exclusively vegetarian menus within a 15-km pilgrimage circuit around the temple. While international fast-food chain KFC has been allowed to open an outlet in Ayodhya, they will only be permitted if they don't have a non-vegetarian menu. This move reflects the evolving culinary scene in Ayodhya, as traditional religious tourism integrates with modern consumer preferences.
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