Premium dessert brand Walko Food Company has acquired Mumbai-based Meemee's Ice Creams, marking its foray into the artisanal dessert market.
With this, Walko plans to expand its portfolio and deepen its reach among urban and digitally-savvy consumers.
Known for its offerings like Toasties, Roley's, and Tubsters, Meemee's has built a niche following among younger audiences. The acquisition will help the brand scale its D2C presence by leveraging Walko's supply chain and presence across 100 cities.
Walko operates brands like NIC Ice Creams, Grameen Kulfi, and Mimo Ice Creams, distributing through platforms like Swiggy, Zomato, Blinkit, and Amazon. The company, backed by JM Financial and Jungle Ventures, is looking to tap into India's Rs 44,000 crore ice cream market, growing at ~11% CAGR.
In February last year, Walko Food's NIC had raised $20 million in a new funding round led by existing investor Jungle Ventures.
NIC competes with new-age as well as established brands such as Cream and Fudge, Havmor, Baskin Robbins, Kwality Walls, Mother Dairy, Cream Bell, Amul and Vadilal.