Heritage Foods to acquire 51% stake in Peanut Butter and Jelly
Heritage Foods expands into guilt-free dessert market with majority stake in Get-A-Way maker.
INDIA – Heritage Foods has announced plans to acquire a 51% stake in Mumbai-based Peanut Butter and Jelly Private Limited, the company behind the guilt-free dessert brand Get-A-Way, for Rs 9 crore. The dairy firm disclosed the development in a stock exchange filing.
As part of the agreement, Heritage Foods will enter into a share purchase deal with Sky Gate Hospitality, which currently holds the stake being transferred. The company will also execute a definitive agreement with Peanut Butter and Jelly and its promoters for the acquisition.
The transaction includes an option for Heritage Foods to purchase an additional 20% stake from the promoters after March 2026 at what the company termed an “appropriate” valuation.
According to the filing, the move strengthens Heritage Foods’ presence in the super-premium, functional, and indulgence-balanced nutrition category.
Peanut Butter and Jelly offers a portfolio of health-focused desserts, including protein ice creams, keto-based treats, and vegan ice pops under the Get-A-Way brand. The products are available through e-commerce platforms, quick-commerce channels, and retail stores across India.
Commenting on the acquisition, Heritage Foods Executive Director Brahmani Nara said the investment aligns with the company’s long-term vision. “Get-A-Way’s focus on protein, no-added-sugar, and health-forward offerings strengthens our commitment to delivering nutritious dairy solutions that resonate with evolving lifestyles,” she noted.
Get-A-Way co-founder and CEO Jash Shah described the deal as a key milestone. “With Heritage Foods’ manufacturing scale, distribution strength, and strategic guidance, we are poised to expand our footprint across India while maintaining the innovation and quality that define our brand,” he said.
Peanut Butter and Jelly recorded revenues of Rs 78.9 million in FY2022-23, Rs 148 million in FY2023-24, and Rs 180.8 million in FY2024-25.
Following the acquisition, operational control will remain with the promoters, while Heritage Foods will hold a controlling stake and offer strategic support. The deal is expected to close within 45 days and does not require regulatory approvals.
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