Investcorp, a Bahrain-based asset manager, has made an investment of $17 million in Wingreens Farms, one of India’s leading packaged food and beverage (F&B) companies, along with Omidyar Network India, an investment firm focused on social impact.
Wingreens, a company dedicated to women’s empowerment, is focused on changing consumer preferences toward healthier and “better for you” products, a market that is expected to grow by $1 billion over the next five years.
The company is committed to producing world-class, minimally processed products with high-quality, sustainably sourced ingredients. Wingreens, a global leader in fresh dips and fruit juices, sells a variety of fast-growing F&B categories under the RAW Pressery brand.
Its portfolio includes healthy snacks, sauces and spreads, spice mixes, a specialty bakery, breakfast cereals, non-dairy milk, protein shakes and a wide assortment of organic products.
“Wingreens addresses a large market that represents significant potential and headroom for growth. With its sustainable business model and focus on delivering quality products, the company is a clear market leader across segments and enjoys a strong reputation. Over the years, it has showcased a robust market standing and strong financial metrics. We look forward to working with the company and enabling them to scale further.”
The company has an omnichannel distribution strategy with an offline retail footprint in over 200 cities across India. Wingreens has also launched a new Direct-to-Consumer website offering its multi-brand foods and beverages across India.
Ms. Anju C Srivastava, Founder & Managing Director of Wingreens Farms, remarked that, “We are delighted to welcome Investcorp and Omidyar Network India to the Wingreens family. Their valuable experience and resources will empower us to onboard many more new-age food and beverage brands on the Wingreens website platform with an online and offline presence.”