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Zappfresh to acquire majority stake in Avyom Foodtech

EntrackrEntrackr · 15d ago
Zappfresh to acquire majority stake in Avyom Foodtech
Medial

Zappfresh to acquire majority stake in Avyom Foodtech Direct-to-consumer meat delivery and processed foods company Zappfresh has approved the acquisition of a 51% stake in Avyom Foodtech Pvt Ltd through a Rs 7.5 crore private placement, according to a board resolution. The completion of the transaction is expected within the next 3–9 months. The acquisition will give Zappfresh access to the ready-to-cook (RTC) and ready-to-eat (RTE) food solutions segment, expanding its product portfolio beyond fresh meat and seafood. The capital infusion into the proposed subsidiary will be deployed in phases in accordance with a business transfer agreement. Founded in 2022 by Deepanshu Manchanda and Priya Aggarwal, Avyom Foodtech is engaged in the production of frozen and ambient food items, snacks, gravies, sauces, and other allied preparations. As part of the deal, Avyom has entered into a binding agreement to acquire the food processing business of Ambrozia Frozen Foods via a slump sale. The move adds to Zappfresh’s acquisition strategy; the company previously acquired Mumbai-based meat and seafood delivery brand Bonsaro and the Dr Meat brand operated by Sukos Foods as part of its growth and diversification efforts. Zappfresh operates in the Delhi-NCR and Bengaluru markets and recently listed on the BSE SME exchange through an IPO. The board has also revised its IPO capital utilisation plan to allocate a larger share of proceeds toward acquisitions to support expansion.

Zappfresh expands to MENA region with Dubai launch in Q2 2025

EntrackrEntrackr · 11m ago
Zappfresh expands to MENA region with Dubai launch in Q2 2025
Medial

Zappfresh expands to MENA region with Dubai launch in Q2 2025 Online fresh fish and meat retailer ZappFresh has expanded its operations across India, the Middle East, and the MENA region. The Gurugram-based company is set to launch its operations in Dubai in the second quarter of 2025. The firm aims to strengthen its presence in western India and explore new markets. It recently broadened its footprint by acquiring Bonsaro, a Mumbai-based online meat and seafood delivery brand. According to a press release by ZappFresh, this expansion has been strategically planned and thoroughly researched as part of the company’s global growth strategy. Founded in 2015 by Deepanshu Manchanda, ZappFresh offers fresh meat, seafood, and ready-to-cook items through its app and website. The expansion has come at a time when Zappfresh is set to launch its initial public offering (IPO) in 2025. The firm filed a draft red herring prospectus (DRHP) for an IPO on BSE SME in August last year. ZappFresh reported a 60% increase in its operating revenue to Rs 90.4 crore in FY24 from Rs 56.3 crore in FY23, while its net profit saw a 70% year-on-year (YoY) growth to Rs 4.7 crore in the last financial year. ZappFresh has raised approximately $14 million to date, including $4.3 million in funding from Ah! Ventures, HT Media, and others in November last year. According to the startup data intelligence platform TheKredible, SIDBI Venture Capital is the largest external stakeholder in the nine-year-old firm, followed by other investors.

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