Pune: JM Financial PE Invests Rs 35 Crore In NIC Brand Ice Cream Maker Walko Food
Pune, 10th June 2021: JM Financial Private Equity is finally set to invest Rs 35 crore in a Pune based food company, Walko Food Company, which provides packaged food to the consumers.
The Rs 35 crore investment will help the company to expand its current plans. This will also benefit Walko in brand building and to grow the company’s current capacities across the country.
Walko food owns a natural ice cream brand “NIC” and manufactures plants in Pune and retail in over 50 cities across India. The company also holds manufacturing units across the cities from where the food is delivered by various platforms, modern trade and parlours.
The company was founded by Jeetendra Bhandari, who has professional experience in the US with leading brands like Coca-Cola and Walmart. Bhandari with his professional experience started with his entrepreneur journey and in a very short span the company emerged as a fast-growing natural ice cream brand in the country and it continues to scale up. Walko is focusing more on building brands that deliver on quality and innovation.
“NIC is well-placed to address the changing customer preferences for relatively healthier, preservative-free snacking options. The fund infusion will help the company scale up its business and expand its market share,” said Darius Pandole, Managing Director & CEO, PE & Equity AIFs, and JM Financial.
