Walko Food Company Expands with Meemee’s Ice Creams Acquisition
Walko Food Company, a premium dessert brand, has made a significant move by acquiring Mumbai-based Meemee’s Ice Creams. This acquisition represents Walko’s entry into the artisanal dessert sector.
With this strategic acquisition, Walko aims to broaden its product range and strengthen its connection with urban and digitally-oriented consumers. Meemee’s is already popular for its unique products such as Toasties, Roley’s, and Tubsters, appealing to a younger demographic. This deal will enhance Meemee’s direct-to-consumer (D2C) presence by utilising Walko’s established supply chain and extensive distribution across 100 cities.
Walko is known for its other brands, including NIC Ice Creams, Grameen Kulfi, and Mimo Ice Creams, which are available through various online platforms like Swiggy, Zomato, Blinkit, and Amazon. The company, which is financially supported by JM Financial and Jungle Ventures, is keen to make its mark in India’s Rs 44,000 crore ice cream market, which is experiencing a robust growth rate of approximately 11% CAGR.
In February of last year, Walko Food’s NIC successfully secured $20 million in a funding round led by its existing investor, Jungle Ventures.
NIC competes with both emerging and well-established brands including Cream and Fudge, Havmor, Baskin Robbins, Kwality Walls, Mother Dairy, Cream Bell, Amul, and Vadilal.
