Premium dessert brand Walko Food Company has acquired Mumbai's Meemee's Ice Creams to enter the artisanal dessert space. Walko aims to grow its mix and build short- to medium-term awareness with urban consumers and digitally-savvy millennials, who will be looking for brands and ingredients they trust.
Meemee's has gained traction among young patrons with products including Toasties, Roley's and Tubsters. Through Walko, Meemee's will be able to ramp its D2C or direct to customer business leveraging Walko's supply chain and distribution to approximately 100 cities.
Key Highlights
Walko Food Company acquires Meemee's Ice Creams to expand into India's growing artisanal dessert market.
Meemee's popular products like Toasties and Tubsters to scale D2C presence across 100 cities using Walko’s distribution.
Walko, backed by Jungle Ventures, taps into India’s Rs. 44,000 crore ice cream market with brands like NIC, Mimo, and Grameen Kulfi.
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Walko's brands include NIC Ice Creams, Grameen Kulfi and Mimo Ice Creams, and sells through online food delivery platforms like Swiggy, Zomato, Blinkit, Amazon and others. Opened in 2020 and funded by JM Financial and Jungle Ventures, Walko is looking to capitalize on deeply penetrated India's Rs. 44,000 crore ice cream market expecting to see the market grow at a 11 percent CAGR.
In February, Walko Food's NIC company had raised $20 million in a new funding round led by existing investor Jungle Ventures.
NIC competes with new-age and established brands such as Cream and Fudge, Havmor, Baskin Robbins, Kwality Walls, Mother Dairy, Cream Bell, Amul and Vadilal.
