The Toronto-based group has acquired the frozen potato processing business of Falcon Agrifiz Foods.
Operating out of Ahmedabad in Gujarat, Falcon Agrifiz Foods is a major player in the Indian frozen food manufacturing market and, alongside frozen potato products, also specialises in the production of traditional Indian flatbreads.
The financial terms of the agreement have not been disclosed, but McCain has described the deal as an “important next step” in its ambitions for the Indian market.
The acquisition will bolster the Canadian company’s presence in the region, adding manufacturing capacity and complementing its existing operations in Gujarat.
Falcon Agrifiz currently employs more than 450 people and has established relationships with more than 1,000 farmers across the western Indian state.
Pierre Danet, regional president, Asia Pacific and South Africa at McCain, said: “India continues to be a priority growth market for McCain Foods.
“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.”
McCain said the acquisition builds on its recent investment in India, including the completion of a CAD$135 million expansion of its existing operations in Gujarat, creating jobs for 110 full-time employees and 150 contract workers.
The company currently employs more than 940 people directly and partners with more than 2,500 farmers across the country, having first established a presence there in 1998.
Parthajeet Patnaik, vice chairman of Falcon Agrifriz, said: “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.”
Manish Tibrewal, director and CEO of Falcon Agrifriz, added: “McCain shares our values and our confidence in the growth potential of India’s frozen food market.
“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.”
