Kolkata-based ITC has announced its plan to acquire Prasuma, a well-known brand in India’s frozen, chilled, and ready-to-cook food industry. This acquisition will help ITC strengthen its position in the growing frozen foods market, which currently has an annual value of over Rs 10,000 crore.
Prasuma specializes in oriental cuisine, including momos, baos, and Korean fried chicken, and has a diverse product portfolio of more than 170 items. With this acquisition, ITC aims to expand its offerings and cater to consumers looking for easy-to-cook, high-quality frozen meals.
ITC to Acquire 100% Stake in Prasuma
ITC has signed a definitive agreement to acquire Prasuma in a phased manner. Initially, ITC will purchase a 43.8% stake upfront, with plans to acquire the remaining stake in phases by June 2028. The entire deal is structured based on pre-agreed valuation criteria and other conditions.
This strategic investment aligns with ITC’s focus on expanding its presence in the frozen and ready-to-cook food sector, which is seeing increased demand among Indian consumers.
Prasuma operates under three key brands:
- Prasuma – Known for its popular frozen food products, including momos, baos, and Schezwan Momo meals.
- Meatigo by Prasuma – A direct-to-consumer (D2C) platform offering high-quality raw meats and delicatessens.
- Prasuma Momo Kitchen – A Pan-Asian cloud kitchen brand with 40 outlets.
Since launching its flagship product, Prasuma Momos, in 2019, the company has introduced several first-to-market products such as Japanese Fried Rice and Korean Fried Chicken. Prasuma is available in over 100 cities across online and offline retail channels and has achieved an annual revenue run rate of Rs 200 crore.
ITC Presence in the Frozen Food Market
ITC entered the frozen food market in 2019 with its ITC Master Chef brand. In just five years, the brand has expanded to offer more than 50 ready-to-cook frozen food products, including Indian snacks, Western delicacies, and Indian breads.
Currently, ITC Master Chef operates in over 200 cities, catering to both retail consumers and food service businesses. The acquisition of Prasuma will allow ITC to become the first full-stack player in the segment, offering a complete range of frozen, chilled, and ready-to-cook food products.
ITC’s acquisition of Prasuma is part of its strategy to provide “Good-for-You” innovative food products across multiple cuisines. Hemant Malik, Wholetime Director at ITC Limited, stated that the company is excited to combine Prasuma’s expertise with ITC’s resources to build an industry-leading portfolio of frozen meals and snacks.
With Indian consumers increasingly seeking convenient, high-quality frozen food options, ITC’s investment in Prasuma reinforces its commitment to innovation and future-ready food solutions.
