Notably, the remaining 49% of shares will remain with the original promoters.
The Rs90m ($1.02m) deal includes an option for Heritage Foods to acquire an additional 20% from the promoters after March 2026, at an ‘appropriate’ valuation determined by the company.
Heritage Foods emphasized that this acquisition solidifies a “strong foothold in the super-premium, functional, and indulgence-balanced segment.”
Peanutbutter and Jelly specializes in curating and retailing “healthy” dessert lines, focusing primarily on protein ice creams, keto desserts, and vegan ice pops.
The brand’s products are available through e-commerce platforms, quick-commerce channels, and retail chains in India, branded under Get-A-Way.
Brahmani Nara, executive director of Heritage Foods, stated: “The acquisition of Get-A-Way is well aligned with our Vision 2030 of becoming the most admired dairy nutrition company.”
“Get-A-Way’s focus on protein, no-added-sugar, and health-forward offerings strengthens our commitment to delivering nutritious dairy solutions that resonate with evolving lifestyles, while leveraging Heritage Foods’ core expertise to accelerate the brand’s next phase of growth.”
Jash Shah, co-founder and CEO of Get-A-Way, remarked: “Joining the Heritage Foods family is a transformative milestone for us.”
“With Heritage Foods’ manufacturing scale, distribution strength, and strategic guidance, we are poised to expand our footprint across India while maintaining the innovation and quality that define our brand.”
Peanutbutter and Jelly reported turnover of Rs78.9m in FY2022–23, Rs148m in FY2023–24, and Rs180.8m in FY2024–25.
Post-acquisition, operational management will remain with the Peanutbutter and Jelly promoters, while Heritage Foods will control the majority stake and oversee strategic direction.
The transaction is expected to finalize within 45 days and does not necessitate governmental or regulatory approvals.
