IHC acquires ready-to-eat food producer Adelie for $350m
Indian leisure company India Hospitality Corp (IHC) has acquired Adelie Food Holding, a UK-based pr…Indian leisure company India Hospitality Corp (IHC) has acquired Adelie Food Holding, a UK-based producer of ready-to-eat food, for $350m from private equity firm Duke Street Capital.
Through the acquisition, IHC plans to leverage Adelie's cold food manufacturing, distribution as well as consumer insights in India.
IHC Chairman Ravi Deol said the rising demand for quality fast food products among India's growing middle class is one of the primary reasons for the acquisition.
"IHC is excited to own Adelie ... with its inherent potential to grow it into a global player in this segment," Deol added.
Adelie, headquartered in Milton Keynes, UK, supplies take-away food products such as salads, sandwiches, quiches to grocery retailers, contract caterers, coffee shop chains and airlines across UK. The company, which has a turnover of £220m, has seven manufacturing units and four distribution sites.
IHC is based in Mumbai, India, and its businesses include three hotels, an airline catering operation and a collection of restaurant brands.
