Waycool Foods acquires Farm Taaza’s supply chain biz

Chennai-based food tech enterprise WaycoolFoods has acquired the supply chainbusiness of Bengaluru-based B2B fresh produce e-retailer Farm Taaza for an undisclosed amount.

The business transfer agreement between the two companies involves a transfer of Farm Taaza’s supply chain assets, collection and distribution centres, clients, and team to Waycool Foods.

This is Waycool’s third business acquisition this fiscal year as the startup acquired the distribution business of Aalgro Foods, and took significant equity stake in Benani Foods earlier this year. Waycool estimates the transfer to result in an additional 40-45 tons of capacity per day, deepen the company’s network in Southern markets especially Hyderabad, and also facilitate easier access to online retailers (a major client base of Farm Taaza).

“We have begun the task of getting the tech and ops teams together, and integrating Farm Taaza’s centres seamlessly into our IT platform. With this, we will be able to increase our procurement base as well as our distribution footprint in specific target markets such as Telangana and Karnataka,” Sanjay Dasari, co-founder, WayCool Foods, said. Kumar Ramachandran, founder, Farm Taaza, said, “While we have had good success in building a supply chain business in the fresh produce industry, we felt that our core skills lay more in the tech space as an enabler for change.” WayCool currently serves a network of around 8,000 clients with over 200 tons of food products every day, sourcing from a base of 35,000 farmers. The food distribution company has raised a total of $25 million in debt and equity since its launch in 2015.

Source:-https://retail.economictimes.indiatimes.com/news/food-entertainment/food-services/waycool-foods-acquires-farm-taazas-supply-chain-biz/69658500