Apax Partners picks up minority stake in iD Fresh Food, early backers part exit

Bengaluru-based food brand iD Fresh Foods has raised over ₹1,500 crore from global private equity firm Apax Partners, which has bought a significant minority stake in the company.

The selling shareholders will stay on as investors along with co-founder PC Musthafa and his cousins, though the financial details of the deal were not shared.

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P.C. Musthafa, co-founder & CEO of iD Fresh, said, “This partnership marks a defining moment in iD Fresh’s journey. From a modest battermaking 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. This 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.”

About iD Fresh Foods

Founded in 2005, iD Fresh Foods has consistently maintained double-digit profit margins and achieved around 25% overall growth in recent years. The brand started by supplying idli and dosa batter to local stores and has since expanded to over 50 cities in india and the Gulf region.

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Today, the company employs nearly 2,400 people and runs a daily cold-chain distribution system that delivers products directly to retailers. This setup helps keep items like idli and dosa batter, Indian flatbreads, chutneys, sambar, and value-added dairy products fresh for 5–7 days.

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