iD Fresh Food, a food brand, said funds managed by private equity firm Apax Partners LLP, will acquire a significant minority stake from existing shareholders Premji Invest and TPG NewQuest, both of which will remain investors alongside its co-founder, PC Musthafa, and his cousins.
Financial terms of the transaction were not disclosed. Founded in 2005, iD Fresh was created to make fresh, preservative-free, traditionally prepared Indian food available at scale.
Today, iD Fresh is India’s largest ready-to-cook fresh foods brand and the category leader in branded batter and Indian flatbreads, with an estimated 50–60% share in its core categories.
P.C. Musthafa, co-founder & CEO of iD Fresh, said, “This partnership marks a defining moment in iD Fresh’s journey. From a modest batter-making unit to a brand trusted by millions of households, our growth has been anchored in one simple belief, that consumers deserve fresh, honest food with no shortcuts. The Apax Funds’ investment will allow us to accelerate growth, build capacity, broaden our product range, and scale into more cities and markets.”
Harjot Dhaliwal, Partner and Head of India at Apax, said, “iD Fresh has delivered strong, consistent growth in large, under-penetrated markets. We will work closely with the management team and leverage our consumer packaged goods expertise to accelerate growth.”
Rohan Haldea, Partner at Apax, said, “iD Fresh sits at the intersection of several powerful, long-term trends in India – rising incomes, rapid urbanisation, and consumers’ desire for convenient yet fresh, clean-label food at home.With Apax’s investment, we will partner with iD Fresh to support its next phase of growth in India.”
Published – January 05, 2026 08:55 pm IST
