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COMPANY REPORT

WayCool Foods acquires physical distribution business of Aalgro Foods
Friday, 08 March, 2019, 12 : 00 PM [IST]
Our Bureau, Mumbai
Chennai-based food-tech start-up WayCool Foods and Products Pvt Ltd has recently announced its acquisition of the physical distribution business of Aalgro Foods Pvt Ltd – a Bengaluru-based B2B (business-to-business) company in the fruit retail packing and distribution space.
 
The acquisition is in line with WayCool’s aim to build a seamless national distribution channel, with deep sourcing and value-added capabilities into specific food product categories.

With this acquisition, WayCool will now be able to distribute to an expanded customer base in Southern India, and support both online and offline modern retailers with a range of premium packaged fruits. The acquisition also brings forward integration capabilities to WayCool.

Aalgro Foods, a category specialist in imported fruits, is pivoting to an online marketplace model in the B2B ecosystem.

Commenting on the acquisition, Sanjay Dasari, co-founder, WayCool Foods, said, “Since our inception we have grown 18 times in the last 18 months supplying to over 5,000 clients with a base of 35,000 farmers across 50-plus regions in India.”

“The association with Aalgro will strengthen WayCool’s packaging and retail distribution infrastructure and facilitate exponential growth of our customer base, as we look to build one of India’s largest food development and distribution companies,” he added.

Anuj Choudhary, founder, Aalgro and Flipkart’s early core team, said, “Over the past few years, Aalgro’s physical business has helped us in providing good understanding of the FnV (fruit and vegetable) category and imported fruits in particular.”

“We believe that we have gained some deep insights and that the timing is right for us to pivot and build out our online marketplace model.

WayCool, being a leading new-age company in the food category and having built a large and robust physical food supply chain platform, I felt that they were the best home for our physical business,” he added.

WayCool has indicated that it will continue to explore strategic investment opportunities into companies that align with their strategy of building out a full-stack food supply chain.
 
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