Global private equity investor Advent International has announced a $150 million investment in Iscon Balaji Foods, acquiring a significant minority stake in the company as part of its ongoing expansion strategy in the processed food sector. The investment forms part of Iscon Balaji Foods’ larger $215 million Series A funding round, which also includes participation from 360 ONE.
Founded in 2012 and headquartered in Gujarat, Iscon Balaji Foods is one of India’s leading manufacturers and exporters of frozen potato-based products, including French fries, hash browns, coated fries, and specialty potato offerings. The company caters to quick-service restaurants and food-service distributors across India, South and Far East Asia, the Middle East, and Australia.
The fresh capital infusion will support the company’s next phase of growth across domestic and international markets, while also strengthening its manufacturing capabilities, operational platform, and product portfolio.
Shweta Jalan, Managing Partner, Advent International , highlighted Iscon Balaji Foods’ strong execution capabilities, institutional maturity, and consistent growth track record as key factors behind the investment decision.
Iscon Balaji Foods is currently ramping up its production capacity through a new manufacturing facility in Gujarat. As per reports, the company has already commissioned what is being described as Asia’s largest French fries manufacturing plant with a capacity of 150,000 metric tonnes.
Commenting on the partnership, Neel Kotak, Managing Director and CEO of Iscon Balaji Foods said, Advent brings not only capital but also strategic expertise and operational experience to support the company’s long-term ambitions.
The transaction further underscores growing investor interest in India’s rapidly expanding frozen foods and QSR supply-chain ecosystem, driven by rising processed food consumption and increasing global demand for frozen potato products.
