360 ONE Asset to invest nearly $70 million in Iscon Balaji Foods

360 ONE Asset, a wholly owned subsidiary of 360 ONE WAM, will invest about $70 million in Iscon Balaji Foods (IBF)—India’s largest potato processor and exporter of value-added potato products.

 

Founded in 2013, IBF operates a fully integrated, export-oriented platform spanning seed development, farmer partnerships, large-scale processing and global distribution, 360 ONE Asset said in a release.

 

The company was backed by the JP Iscon family and the Balaji Wafers family in its early years, helping kickstart operations and scale its integrated model. Over the past decade, the company has grown into one of the world’s top 10 frozen potato processors, supplying leading QSR and foodservice customers across India, Southeast Asia, the Middle East and the Far East, the release said.

 

 

The investment will support IBF’s next phase of growth, which includes capacity expansion, deepening farmer-linked supply chains, upgrading processing and cold-chain infrastructure, launching new value-added product lines, and expanding into additional international markets.

 

With this investment, IBF plans to expand its network to over 25,000 farmers over the next three years, strengthening rural incomes while creating one of the most resilient and scalable supply chains in the global food industry.

 

Currently, IBF partners with more than 10,000 farmers through its contract farming and proprietary seed development programme, enabling consistent quality, traceability and higher farm-level productivity.

 

Neel Kotak, managing director and chief executive officer of Iscon Balaji Foods, said in the release: “Over the last decade, we have focused on building a globally competitive, integrated food platform from India. As we enter the next phase of our journey—expanding capacity, product innovation and international presence—360 ONE Asset brings long-term capital and an institutional partnership that aligns strongly with our vision. We look forward to working closely together as we continue to scale IBF into a leading global food processing company.”

 

Avendus Capital acted as the exclusive financial adviser to Iscon Balaji Foods on the transaction.

 

Tarun Sharma, senior fund manager and strategy head, consumer and healthcare, 360 ONE Asset, also said in the release: “Iscon Balaji Foods is a unique platform—combining high growth, attractive margins and a large global market opportunity. Neel Kotak has built a globally competitive business with strong structural moats and a proven management team sharply focused on execution. This investment embodies our consumer strategy of backing scaled leaders in their categories, driven by exceptional founders.”