Apax Partners To Acquire Over 35% Stake in iD Fresh Food for More Than Rs 1,500 Crore

Overview

• Funds advised by Apax will work with iD Fresh’s leadership to accelerate growth through expanded distribution into new cities and channels and stronger brand marketing.
• The transaction was announced Monday and remains subject to customary regulatory approvals and closing conditions.
• Premji Invest and TPG NewQuest are selling part of their holdings yet remain shareholders alongside co-founder P C Musthafa.
• Founded in 2005, iD Fresh runs a daily direct-to-retailer cold-chain network across more than 50 cities in India and the Gulf, employing about 2,400 people.
• The company reported double-digit operating margins and roughly 25% recent growth, and it plans to direct the new capital to capacity expansion, a broader product range, and entry into additional markets while keeping detailed terms undisclosed.