The Indian unit of Dr. Oetker has entered into an agreement with Spycy Fast Food to acquire its Kuppies brand, along with its manufacturing hub and innovation centre.
The acquisition is the company’s second purchase in India after it took over FunFoods in 2008, according to Bloomberg. With this latest deal, Dr. Oetker is looking to expand its product portfolio in the cakes and desserts segment.
Dr. Oetker India’s managing director and CEO, Oliver Mirza, said: “This acquisition will enable us to present Indian consumers a range of innovative and exciting eggless offerings that match the taste experience of European cakes”.
He continued: “Our foray into this new category is a decision backed by extensive consumer research. We are especially delighted to introduce variants such as dark choco-chip brownie, peanut butter brownie and red velvet brownie, which no other player is offering”.
“India remains an exceptionally important market for us, and we will continue to invest in growing our portfolio. This acquisition reaffirms our commitment to build this category in times to come and is in accordance with our global strategy.”
Spycy Fast Food’s founders, Jeevash and Uni Vaid, added: “We are extremely proud to associate with Dr. Oetker, which provides us a great platform to further our vision of delighting consumers with an array of offerings in cakes and desserts, right from celebration cakes, pastry cakes, cupcakes, jar cakes to brownies and more”.
They continued: “By joining the Dr. Oetker family, we will now get a chance to reach a larger audience and scale up this category to its full potential”.
Terms of the deal were not disclosed.
© FoodBev Media Ltd 2024
