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McCain Foods has entered into an agreement to acquire Falcon Agrifriz Foods’ frozen potato processing business in Gujarat, India.
The acquisition will add a modern, purpose-built processing facility to McCain’s existing operations in Mehsana, Gujarat, strengthening its production network and supporting growing demand for frozen potato products in domestic and international markets.
Falcon Agrifriz operates a fully automated facility producing a range of frozen potato products. The business employs more than 450 people and works with over 1,000 farmers across Gujarat.
McCain said the addition of the facility would provide greater flexibility across its manufacturing network and strengthen its ability to serve customers in India and key export markets.
Pierre Danet, regional president, Asia Pacific and South Africa at McCain Foods, 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.”
He added: “By strengthening our manufacturing network, we will be better positioned to grow alongside our customers, growers and communities for the long term.”
McCain entered the Indian market in 1998 and has since expanded its operations to employ more than 940 people directly, while partnering with over 2,500 farmers across the country.
The proposed acquisition follows the completion of a CAD 135 million (approx. $94.7 million) expansion of McCain’s existing Gujarat operations, which created 110 full-time positions and 150 contract roles.
Parthajeet Patnaik, vice chairman of Falcon Agrifriz, highlighted: “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, said the agreement would allow the business to build on its existing operations and capitalise on growth opportunities in India's frozen food market.
Following completion, McCain plans to integrate Falcon Agrifriz's employees and farming partners into its wider Indian network.
Aditya Krishna, managing director of McCain Foods India, said: “Our success in India has been built alongside our people, growers, customers and communities. We look forward to welcoming Falcon employees and growers to the McCain network and continuing to create local employment opportunities and support regional industrial development as we enter the next phase of our long-term growth in India.”
The transaction remains subject to customary closing conditions. Financial terms have not been disclosed.
Top image: © McCain Foods
