India: Heritage Foods acquires 51% stake in Get-A-Way

Heritage Foods, the Indian dairy firm, has announced the acquisition of a 51% stake in Get-A-Way ice cream maker Peanutbutter and Jelly Pvt Ltd from Sky Gate Hospitality for 9 crore INR ($1 million).

Established in 2018, Get-A-Way makes high-protein, no-added-sugar ice creams and desserts, using whey protein and natural sugar substitutes to appeal to health-conscious buyers in India’s premium dessert category.

Commenting on the move, Heritage Foods executive director Brahmani Nara said: “The acquisition of Get-A-Way is well aligned with our Vision 2030 of becoming the most admired dairy nutrition company. This partnership combines our three decades of dairy expertise and manufacturing excellence with Get-A-Way’s innovative product portfolio and strong Gen Z consumer connect”.

“Get-A-Way’s focus on protein, no-added-sugar, and health-forward offerings strengthens our commitment to delivering nutritious dairy solutions that resonate with evolving lifestyles, while leveraging Heritage Foods’ core expertise to accelerate the brand’s next phase of growth”, she added.

Get-A-Way co-founder and CEO Jash Shah said: “With Heritage Foods’ manufacturing scale and distribution strength, we are poised to expand our footprint across India”.

The acquisition is expected to be completed within 45 days from the date of board approval, subject to regulatory approval.

Source: Economic Times / StoryBoard18