ITC has announced that it has signed definitive agreements to acquire Prasuma, a frozen, chilled, and ready-to-cook food company. 

Prasuma, a family business has been scaled up by Lisa Suwal and Siddhant Wangdi, a wife and husband duo who have built a portfolio of products - with the vision to redefine the frozen food category in India and make frozen food even better than fresh. 

For this acquisition, Ernst & Young acted as the exclusive investment banker and Shardul Amarchand Mangaldas & Co. acted as the exclusive legal counsel to Prasuma and its shareholders on this transaction.

Lisa Suwal, CEO, Prasuma & Meatigo, said, "We are extremely proud of what we have built and excited to join hands with ITC to drive the next phase of growth for Prasuma. Consumers' overwhelming support and love for our products have always inspired us. ITC shares our commitment to quality and innovation, making them the perfect partner. This collaboration isn’t just a business transaction— it’s the culmination of our lifelong passion for exceptional food, a dream that began right in our kitchen.” 

Siddhant Wangdi, COO, Prasuma & Meatigo, added, “Frozen food is undeniably the category of the future. With Prasuma’s strength in manufacturing and innovation combined with ITC’s expertise in distribution and building new-age brands, we are excited about the potential of this partnership. Together, we believe this collaboration will create significant value for stakeholders and consumers alike in India and globally - revolutionising the frozen food industry with quality, convenience, and most importantly tasty food.”