iD Fresh eyes global expansion, strengthens leadership

As part of the new global structure, the company will appoint dedicated Business Heads and CEOs for each International market and also enter new markets, including Singapore and Australia, in 2024
Rajat Diwaker, India CEO, iD Fresh
Rajat Diwaker, India CEO, iD Fresh

iD Fresh Food, India’s leading and most innovative fresh food brand, kickstarts the New Year by building on its continued success and accelerating its local-to-global strategy by strengthening its domestic and global leadership team.

With an India-centric approach to its global plans, the company announced today the appointment of industry veteran Rajat Diwaker as the India CEO. Rajat is an industry veteran with an illustrious career spanning over two decades in the FMCG industry. He has an outstanding track record of turning around businesses and delivering high-impact growth. In his last role, he served as the Managing Director of Marico Bangladesh Limited. He is also a director on the board of Foreign Investors’ Chamber of Commerce and Industry (FICCI) Bangladesh.

PC Musthafa, who led iD Fresh for nearly two decades to make it India’s most loved consumer brand, takes on the role of global chief executive officer while continuing to serve as the chairman of the Board of Directors. Musthafa will be responsible for global expansions, building food-tech capabilities, strategic acquisitions, inspiring organizational culture and driving iD Fresh’s innovations for the global market.

As part of its growth strategy, iD Fresh will also appoint dedicated business heads and chief executive officers for each International market. In fact, the company is in the process of hiring its US chief executive officer. Currently, over a third comes from revenues outside India. The plan for 2024 is to enter new markets, such as Singapore and Australia, while expanding its footprints in the existing markets.

Commenting on the latest development, PC Musthafa, global chief executive officer, iD Fresh Food, said, “iD Fresh’s journey so far has been incredibly rewarding, and we continue to make tremendous strides. I am delighted to welcome Rajat Diwaker to the iD Fresh family. Under his able and forward-looking leadership, I’m confident that we will scale new heights and win more hearts in the years to come. And as we embark on new adventures, I am thrilled to lead the brand into new global markets, driven by the incessant consumer love that we have garnered over the years.”

Rajat will spearhead iD Fresh’s efforts to foster sustainable business growth and innovation, as the brand continues to achieve newer milestones in India. “I am very excited to assume this responsibility. It's a privilege to lead a team that has set new benchmarks for innovation and business growth. My focus will be on accelerating innovation, portfolio expansion, widening distribution and expanding manufacturing footprint; thereby creating more value and impact on consumers, team members and shareholders alike,” said Rajat.

iD Fresh’s journey from its humble beginnings in Bengaluru in 2005 to a soaring global enterprise has set new benchmarks for the food industry, with its USP of 100% natural, high-quality, healthy, preservative- and chemical-free products. The company’s announcement comes at a time when the consumer demand for fresh, healthy foods and opportunities for growth in the international markets have reached unprecedented levels. To leverage this growth, the company also plans to roll out IPO over the next three to four years.

The company had recently announced the appointment of Megha Latawa as its chief human resources officer (CHRO) for India and international markets, and Enakshi Dasgupta as head of New Business and New Product Development (NPD). As the Bengaluru-based company accelerates its global growth plans, the focus is on strong leadership that paves the way for a bright future.

In 2022, the company had raised INR 507 crore in Series D round of funding, in one of the largest deals in the food start-up space. The round was led by a global private equity firm focused on the Asia-Pacific region, along with the existing investor, Premji Invest.

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