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McCain Stokes India Ambitions by Snapping up Gujarati Firm
The deal adds a recently opened plant, a network of more than 1,000 farms and about 450 workers, McCain said.
- On Monday, as federal Minister of International Trade Maninder Sidhu launched a trade mission in India, Toronto-based McCain Foods announced it acquired the potato operations of Falcon Agrifriz Foods in Gujarat.
- This expansion follows a recent thaw in diplomatic relations between Canada and India, which had soured in 2023 over allegations regarding the death of Sikh leader Hardeep Singh Nijjar, while India's middle class of roughly 400 million people drives food sector investment.
- McCain is acquiring a potato-processing facility opened last year following a $155-million investment, along with a supply network of more than 1,000 farms, to better serve India's domestic and export markets.
- Chief executive Max Koeune stated, "Our acquisition of Falcon Agrifriz is the latest step in that journey and reflects our confidence in the market's long-term growth potential," while McCain plans a new processing plant in Madhya Pradesh.
- Reflecting broader interest in the country's agricultural sector, private-equity investors have increasingly targeted Indian food producers over the past year, a trend aligned with McCain's integration of Indian culinary concepts into its "Flavours of the World" product line.
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McCain Foods Announces Agreement to Acquire Falcon Agrifriz Foods' Potato Processing Business, Strengthening Its Manufacturing Network in India
Get latest articles and stories on Business at LatestLY. New Delhi [India], October 12: McCain Foods, a global leader in prepared potato and appetizer products, has entered into an agreement to acquire Falcon Agrifriz Foods’ frozen potato processing business in Gujarat, India. Business News | McCain Foods Announces Agreement to Acquire Falcon Agrifriz Foods' Potato Processing Business, Strengthening Its Manufacturing Network in India.
·Mumbai, India
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Total News Sources15
Leaning Left0Leaning Right4Center2Last UpdatedBias Distribution67% Right
Bias Distribution
- 67% of the sources lean Right
67% Right
C 33%
R 67%
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