Prowess Advisors acted as the sole financial advisor on this transaction.
Amalgam Frozen Foods was founded by Mr. Abraham Tharakan, an industry veteran and serial entrepreneur who has successfully established and scaled well-known brands like Sumeru Frozen Foods & Keya Spices in the past.
On the occasion of this fund raise, Mr. Tharakan, Chairman, Amalgam Group said, “We have always been singularly focused on building a brand that caters to all categories in the frozen food space. In the current stage of growth, we are focused on augmenting our upstream capabilities, lowering dependence on raw-material imports and scaling up our downstream D2C presence. These efforts will help us provide a superior quality product to our consumers.”
Rohit Bahadur, MD & CEO, Prowess Advisors said, “Amalgam Frozen Foods has emerged as a notable player with a wide range of product offerings thereby competing with all major players across segments in the frozen food industry. Led by a team with a high pedigree in frozen food manufacturing technology, the company has managed to build a strong brand equity in the Indian market within a short span of time. The current investment will help fuel the company’s growth and create value for all stakeholders.”
The Indian Frozen Food market stood at INR 3,420 crores in FY2020 and is expected to grow at a CAGR of 23% from FY 2020 to FY 2025. This growth is driven majorly by changes in consumer preferences, increase in digital penetration and growth in the purchasing power of the consumers.
About Amalgam Frozen Foods Private Limited
Amalgam Frozen Foods, under its brand Buffet, offers over 100 products through its omni-channel distribution network to customers across India, Middle-East and others. Their product portfolio includes RTC and RTE products like snacks, Indian & artisanal breads, seafoods, meats, sausages, vegetables, and other specialty Indian foods. Recognized for its superior quality and delectability, the brand has established a niche in the minds of the discerning consumers who aspire for a healthy lifestyle.
About Amalgam Group
Amalgam Group has over 35 years of experience in the food processing, freeze drying and feeds industry and employs over 1500 people. The Group entities include Accelerated Freeze-Drying Company and Amalgam Nutrients & Feeds Limited, Amalgam Frozen Foods Private Limited and others. The Group was the pioneer in India to implement IQF technology and cold chain logistics for frozen food. The Group has also been one of India’s major seafood exporters and aqua feed producers.
About Prowess Advisors
Prowess Advisors aims to be a global pioneer in food and Agribusiness advisory and Investment Banking services. Built on over 50 years of collective experience across various advisory roles and assignments, we offer nuanced, customized solutions to drive dynamic, result-oriented growth. We can leverage a wide network of investors, business houses, industry experts, multilateral organizations, government agencies, and seasoned entrepreneurs and professionals to help food and agribusinesses achieve business goals and create lasting, sector-wide impact.
Prowess Advisors, is glad to have advised Amalgam Frozen Foods in this transaction.
