Sunil D’Souza, MD and CEO, Tata Consumer Products, said, “This acquisition is a good strategic fit for us. It opens significant new market opportunities in the fast growing mini-meals segments and helps us partner a passionate and ambitious team of entrepreneurs who will remain and become a part of the Tata Consumer Products team."

KAF was founded by Prashant Parameswaran, Rasika Prashant, Dr KK Narayanan and Amith Sebastian. Its Soulfull brand which was launched in 2013 operates in the health and wellness food segment with its portfolio of millet-based products for kids and adults. “Soulfull synergises well with our existing product portfolio, our distribution network as well as the supply chain. We believe Tata Consumer is well positioned to unlock the full potential of the brand and scale up its presence given the growing consumer need of healthy and convenient food options that they can trust,” said D’Souza.

The Soulfull brand has an innovative portfolio of products such as cereals, healthy snacks, muesli, and plant-based protein drinks. According to Tata Consumers, this acquisition will facilitate the product portfolio expansion into the fast growing ‘on the table’ and ‘on the go’ categories. 

“We are extremely proud to associate with Tata Consumer Products which provides us with a great platform for furthering Soulfull’s purpose of making ancient millets relevant for the 21st century. Tata Soulfull will enhance the brand’s credibility and make health more accessible and mainstream while retaining its vibrancy. The Tata brand is one that has always inspired me and fits perfectly with the values of Soulfull,” said Prashant Parameswaran, MD and CEO, Kottaram Agro Foods.

He added, “This partnership would enable us to not just scale our existing business but also enter new categories in the fast growing health and wellness market. With our team’s continued commitment to building the business under the aegis of Tata Consumer, we will be able to unleash an extremely powerful combination of the strength of Tata Consumer and the agility of Soulfull. I am extremely grateful to Dr KK Narayanan for his guidance and mentorship through the course of this journey. “

The transaction is expected to be completed in the fourth quarter of FY 2021.