Cloud kitchen platform Curefoods on Thursday said it has acquired majority stake in milkshake brand Frozen Bottle for an undisclosed sum.
With this buyout, Curefoods plans to ramp up its dessert portfolio to become a single stop-shop for all kinds of cold desserts.
The cloud kitchen startup also looks to expand reach of Frozen Bottle to 50 cities.
"We now aim to boost our efforts in becoming the go-to cold dessert brand and also widen our breadth of offerings. We look forward to working with the Curefoods team and bolstering their ambitious upward trajectory in the cloud kitchen space," said Pranshul Yadav, Founder and CEO at Frozen Bottle.
Founded in 2017 by Yadav, Frozen Bottle offers cold milkshakes, thick shakes and desserts in over 25 cities with over 110 outlets.
Currently, Curefoods’ dessert portfolio houses brands like CakeZone, Frozen Bottle, Lubov Patisserie, Cupcake Noggins and Iceberg.
“Over the years, the category of frozen desserts and milkshakes has seen a major boost in India. Adding a highly popular milkshake brand, such as Frozen Bottle, to our dessert portfolio will now equip Curefoods with 5 dessert brands across all categories," said Gokul Kandhi, Chief Business Officer at Curefoods.
"Going forward, we will keep adding more brands to Frozen Bottle’s portfolio to appeal to the consumer base that wants to grab a quick snack along with their cold beverage. This partnership will also help us improve our supply chain as we consolidate our position as India’s largest online dessert company," he added.
Recently, Curefoods acquired the South India franchise rights for US-based legacy pizza chain Sbarro.
In January, Curefoods bought Accel-backed Maverix Platforms Pvt Ltd, which runs ready-to-cook food brand Fingerlix. In the same month, it raised $62 million (around Rs 466 crore) from existing investors Iron Pillar, Chiratae Ventures, Sixteenth Street Capital, Accel Partners and Binny Bansal.
