Heritage Foods To Acquire Majority Stake In Dessert Brand Get-A-Way

Hyderabad-based dairy company Heritage Foods yesterday said that its board approved a proposal to acquire a controlling (51% stake) in D2C dessert brand Get-A-Way’s parent, Peanutbutter and Jelly Pvt. Ltd, for INR 9 Cr.

In a filing with the exchanges, the listed dairy company said that it has signed a share purchase agreement to acquire the stake via secondary buyout from existing backer Sky Gate Hospitality Pvt Ltd. 

It is pertinent to note that Sky Gate Hospitality owns Biryani By Kilo (BBK). The cloud kitchen startup acquired a majority stake in the healthy dessert startup in 2022 for $2 Mn.

In a statement, Heritage Foods said that the remaining 49% shareholding will continue to be held by the original promoters. However, the deal also provides the dairy company the option to buy an additional 20% stake from the promoters post March 2026.

The stake acquisition is part of Heritage Foods’ broader plan to expand its presence in the ice cream and healthy dessert categories. It enables the company to enter the category from a high vantage point without having to build a presence from scratch. 

Meanwhile, the listed company added that there will be no leadership changes and cofounders will continue to helm the operations. 

“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,” said Get-A-Way cofounder and CEO Jash Shah.

Founded in 2018 by siblings duo of Jash and Pashmi, and their mother Jimmy Shah, Get-A-Way sells low-calorie, high-protein frozen desserts such as ice creams, popsicles and kulfis. It sells its products through quick commerce sites, food delivery platforms and five offline parlours.

The startup claims to be EBITDA neutral and claims to be on track to double its topline in FY26. The company did not disclose numbers. It also claims to serve more than 8,000 orders daily across 35+ cities.

In a filing with the exchanges, Heritage Foods said that Get-A-Way’s turnover grew from INR 7.9 Cr in FY23 to INR 14.8 Cr in FY24, and then further to INR 18.1  Cr in FY25. 

The development comes at a time when healthy food products have emerged as the flavour of the season. Just days ago, healthy snacking brand Wonderland Foods secured INR 140 Cr in its maiden institutional funding round co-led by Asha Ventures and BII. In May this year, D2C snacking brand Farmley raised $40 Mn in a Series C round led by L Catterton. 

Prior to this in April, ice cream brand Hocco cofounder Ankit Chona’s D2C healthy snacking brand phab bagged $2 Mn in its seed round led by OTP Ventures. In the same month, Chennai-based D2C snacking brand Sweet Karam Coffee also bagged $8 Mn in its Series A round led by Peak XV Partners.