BusinessWire India
New Delhi [India], October 12: McCain Foods, a global leader in prepared potato and appetizer products, has entered into an agreement to acquire Falcon Agrifriz Foods’ frozen potato processing business in Gujarat, India.
The transaction represents an important next step in McCain’s long-term growth in India, adding manufacturing capacity and complementing its existing operations in Gujarat to better serve customers and growing demand. Closing of the transaction is subject to the satisfaction of customary closing conditions.
Falcon Agrifriz operates a modern, purpose-built potato processing facility in Gujarat, producing a range of frozen potato products for domestic and international markets. This acquisition will complement McCain’s existing operations in Mehsana, strengthening its manufacturing footprint and creating a strong platform to support future growth and serve growing domestic demand and key export markets.
“India continues to be a priority growth market for McCain Foods,” says Pierre Danet, Regional President, Asia Pacific and South Africa at McCain. “This acquisition reflects our confidence in the Indian market and builds on nearly three decades of continued investment in our people, local operations and agricultural partnerships. By strengthening our manufacturing network, we will be better positioned to grow alongside our customers, growers and communities for the long term.”
Since launching in 1998 with a team of three, McCain has steadily expanded its operations and workforce in India. Today, McCain employs more than 940 people directly and partners with more than 2,500 farmers across the country. The addition of the Falcon Agrifriz processing facility will complement McCain’s existing Mehsana operations, creating greater flexibility across its manufacturing network and strengthening its ability to serve customers.
Falcon Agrifriz has also built a talented team of more than 450 employees along with relationships with over 1,000 farmers across Gujarat, providing a strong foundation for the business. Following closing, McCain looks forward to building on these relationships as part of its broader farming partner network in India.
“We are proud of the modern, fully automated processing facility we have built at Falcon Agrifriz in less than two years, and especially proud of the talented employees and growers who have helped bring it to life,” says Parthajeet Patnaik, Vice Chairman, Falcon Agrifriz.
“McCain shares our values and our confidence in the growth potential of India’s frozen food market,” says Manish Tibrewal, Director & CEO, Falcon Agrifriz. “As a global leader in frozen potato products, McCain is the right company to build on the strong foundation we have established at Falcon Agrifriz and take the business forward.”
The acquisition builds on McCain’s recent investment in India, including the completion of a $135 million CAD expansion of its existing operations in Gujarat, creating jobs for 110 full-time employees and 150 contract workers.
“McCain has been part of India’s food and agriculture sector for nearly thirty years and we remain committed to its continued growth,” says Aditya Krishna, Managing Director, McCain Foods India. “Our success in India has been built alongside our people, growers, customers and communities. We look forward to welcoming Falcon employees and growers to the McCain network and continuing to create local employment opportunities and support regional industrial development as we enter the next phase of our long-term growth in India.”
For more information, please visit mccain.com.
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