Krishival Foods Limited (NSE: “KRISHIVAL”), one of India’s emerging FMCG companies in the nuts and dried food segment, made a strategic investment for a 52.94 percent stake in leading ice cream manufacturer Melt ‘N’ Mellow Foods Private Limited.

The Company manufactures a variety of ice-creams like cups, cones, candies, family/party packs, novelties, tubs, catering packs, etc, under the brand ‘Melt N Mellow’ and milk products under the brand ‘Hamma.’ In quite a short time, the Company has established its reputation and a good brand name by providing and maintaining good quality ice creams to a wide range of customers. The company’s products have been spread through 20,000 retailers across Maharashtra and North Karnataka. Melt ‘N’ Mellow has sales of Rs. 28.38 cr for FY 23 and Rs. 37.28 cr for FY 24 (unaudited).

Krishival Foods will now enter the ice cream, dairy, and bakery sectors from its established roots in nuts and dry fruits. These segments offer synergies in distribution and, thus, scaling potential, allowing the company to optimize its existing resources across both lines of business. Including ice cream and bakery products within Krishival’s portfolio opens up opportunities for cross-selling and strengthening its presence in the rapidly evolving food sector. This acquisition allows Krishival to participate in India’s rapidly growing ice cream sector.

Abhishek Puranik, Sandeep Shelke, and Amol Palshikar, co-founders of Melt ‘N’ Mellow stated, “We are excited about the journey of Melt ‘N’ Mellow with Krishival. We are confident of Melt ‘N’ Mellow emerging as the numero uno brand in ice cream in India in coming years.”

Aparna Bangar, CMD, Krishival Foods Ltd, stated, “This strategic acquisition is a significant building block for value creation for Krishival shareholders through profitable sustainable growth over the long term. This acquisition aligns with Krishival’s broad vision to emerge as overarching FMCG player in aspirational food products and diversify its business operations aligning with this vision.”