Advent Boosts Iscon Balaji Foods with $150M for Frozen Potato Growth

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AuthorAnanya Iyer|Published at:
Advent Boosts Iscon Balaji Foods with $150M for Frozen Potato Growth
Overview

Advent International, a global private equity firm, is investing $150 million in Iscon Balaji Foods. The funding, part of a larger $215 million Series A round, aims to accelerate the Indian manufacturer's global and domestic growth. Iscon Balaji Foods, based in Gujarat, processes frozen potato products for quick-service restaurants and distributors across Asia, the Middle East, and Australia. The capital will also support building a new state-of-the-art manufacturing facility.

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Funding New Manufacturing Facility

This capital will significantly boost Iscon Balaji Foods' expansion plans, particularly the construction of a new, state-of-the-art manufacturing facility in Gujarat. The expansion is critical for meeting growing demand for its range of frozen potato products, such as French fries and hash browns. The company was founded in 2012.

Expanding Market Footprint

Iscon Balaji Foods (IBF) currently supplies quick-service restaurants and food-service distributors across India, South and Far East Asia, the Middle East, and Australia. Advent International's investment aims to accelerate IBF's growth in these international and domestic markets. Advent will work with founder Neel Kotak, an IIT Bombay alumnus, and the management team to enhance the company's operations and product offerings.

Leadership Perspectives

Shweta Jalan, Managing Partner at Advent, expressed confidence in the IBF team, highlighting founder Neel Kotak's decade of disciplined business building. Jayesh Kotak, Chairman of the Board at Iscon Balaji Foods, welcomed Advent as a partner, emphasizing the company's long-term focus and disciplined growth.

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