Krishival Foods forays into ice cream business with strategic investment in ‘Melt ‘N’ Mellow’

Krishival Foods, one of India’s emerging FMCG companies in nuts and dried food segment made strategic investment for 52.94% stakes in leading ice cream manufacturer Melt ‘N’ Mellow Foods.

The Company manufactures varieties 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 repute and a good brand name in the market by providing and maintaining good quality ice creams to a wide range of customers. The products of company 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).

Expanding from its established roots in nuts and dry fruits, Krishival Foods will now enter the ice cream, dairy and bakery sectors. These segments offer synergies in distribution and thus scaling potential, allowing the company to optimise its existing resources across both lines of business. The inclusion of 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 gives Krishival an opportunity to participate in the rapidly growing ice cream sector in India.

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

Aparna Bangar, CMD, Krishival Foods, 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.”