As McCain Foods seeks to strengthen its manufacturing network in India, it has come to an agreement to acquire Falcon Agrifriz Foods’ modern, purpose-built frozen potato processing business in Gujarat, which will add complementary manufacturing capacity to its existing footprint in Mehsana.
McCain has invested heavily in India, including a recent $135 million CAD expansion of its Gujarat operations, which created 110 full-time jobs and 150 contract positions.
“McCain has been part of India’s food and agriculture sector for nearly 30 years and we remain committed to its continued growth,” said Aditya Krishna, Managing Director, McCain Foods India. “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 completion of the transaction will be subject to closing conditions, but once the deal closes it will expand McCain’s ability to address growing demand and support future growth.
“India continues to be a priority growth market for McCain Foods,” said Pierre Danet, Regional President, Asia Pacific and South Africa at McCain. “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 launched in India in 1998 with a team of three, which has now grown to more than 940 people and built relationships with more than 2,500 farmers India-wide. Falcon Agrifriz employs 450 people and enjoys relationships with more than 1,000 farmers in the area.
“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,” said Parthajeet Patnaik, Vice Chairman, Falcon Agrifriz.
“McCain shares our values and our confidence in the growth potential of India’s frozen food market,” said Manish Tibrewal, Director and CEO, Falcon Agrifriz. “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.”
