New Delhi: DSM Fresh Foods, the company behind meat and seafood brand Zappfresh, has taken a decisive step into processed and packaged foods with the acquisition of Ambrozia Frozen Food’s operating business through Avyom Foodtech. The move opens doors to ready to eat and ready to cook categories and marks the company’s first structured entry into international packaged foods.
As part of the transaction, DSM Fresh Foods is buying a 76 percent stake in Avyom Foodtech through a primary infusion of ₹8 crore. The remaining 24 percent will be held by Deepanshu Manchanda, Managing Director of DSM Fresh Foods, through a ₹2 crore investment. The acquired business reported revenue of ₹13 crore in FY25 and is currently tracking an annualised run rate of ₹16 crore. The enterprise value of the transaction is pegged at ₹25 crore.
The deal brings with it a five acre manufacturing site in Panchkula with 30,000 square feet of built up space. The facility is currently running at about a quarter of its capacity and has the ability to scale production to support up to ₹200 crore in revenue across more than 150 SKUs. Planned categories include soups, desserts, ready to cook and ready to eat formats.
DSM Fresh Foods will roll out new products under the Meevaa brand, starting with 15 to 20 SKUs such as momos, spring rolls and gravies for Indian online channels. Export focused packs are set to be introduced on global marketplaces including Amazon in Europe and Noon in the Middle East. Meevaa already has a footprint in markets such as the Middle East, the UK, Europe and the US.
The company expects global business to account for about 20 percent of revenues in the near term, with Meevaa contributing 15 percent to overall turnover next fiscal and rising to 30 to 40 percent over the next two to three years. DSM Fresh Foods, which has grown 50 to 60 percent annually in recent years, is also evaluating further acquisitions to build a diversified food portfolio and deepen its value added offerings.
