Funds advised by Apax Partners have acquired a significant minority stake in iD Fresh Food through a secondary transaction involving Premji Invest and NewQuest. Both existing investors will retain a portion of their stake following the deal. Financial terms have not been disclosed.
The transaction is aimed at supporting the company’s expansion in manufacturing capacity, product range, and geographic footprint. Central to this growth is the company’s cold-chain distribution model, which relies heavily on temperature-sensitive packaging to maintain product freshness across a five to seven-day shelf life.
The investment is expected to accelerate the scale-up of cold-chain compatible packaging systems, along with improvements in logistics and retail delivery channels. As the business expands across cities in India and the UAE, packaging infrastructure will play a key role in ensuring consistent quality and compliance with food safety standards.
“This strategic partnership with Apax is a defining moment in our journey,” said PC Musthafa, Co-founder and CEO of iD Fresh Food.
“We look forward to working closely with the iD Fresh management team to continue expanding the business and driving operational excellence,” said Harjot Dhaliwal, Partner at Apax and Head of India.
The deal remains subject to regulatory approvals.