A frantic bidding war is brewing in India’s fast-moving consumer goods (FMCG) landscape as major players set their sights on Farmley, the health-focused snacks brand. Companies including Emami, ITC, Britannia, and Orkla India are reported to be in serious pursuit of acquiring a significant stake in Farmley, with the brand potentially valued at around ₹2,000 crore.
## Who’s In on Farmley?
The companies interested in Farmley’s equity are among the country’s most established FMCG names. Emami, ITC, Britannia, and Orkla India are all evaluating entry into the healthy snacking space through this deal. Meanwhile, a group of early-stage investors holding approximately 31% of Farmley have put their stakes up for sale. Founders Akash Sharma and Abhishek Agarwal currently retain another 32% between them, but their willingness to sell remains unclear.
## Valuation and Sale Structure
Farmley could be valued at about ₹2,000 crore in this round of talks. The sale options being explored are diverse. On one hand there’s a potential partial exit through a minority stake divestment. On the other, there’s scope for full control—should the founders agree to sell their shares, turning the deal into a majority stake transaction.
## Key Investors and Their Stakes
According to market data:
– Omnivore Partners, DSG Consumer Partners, Alkemi Growth Capital, Insitor Partners, Indigram Labs, and Trifecta Capital together hold 31%.
– L Catterton (part of LVMH and Groupe Arnault) holds 21%, but has indicated that it’s not participating in this sale round.
– Remaining shares are owned by a mix of angel investors, enterprises, and the employee stock ownership plan (ESOP) pool.
## Farmley’s Journey: From B2B Roots to D2C Growth
Founded in 2017 by IIT graduates Akash Sharma and Abhishek Agarwal, Farmley launched as a B2B business specializing in supplying dry fruits and nuts to retailers. However, in 2021, the company shifted its strategy and rebranded itself as a direct-to-consumer (D2C) entity.
A key financial milestone was crossed in its Series C funding round in 2025, when L Catterton infused approximately ₹194 crore to acquire its 21% stake—this placed the company’s valuation at about ₹944 crore.
## Financial Performance & Growth Projections
Farmley is on track to post revenues between ₹700–₹750 crore in fiscal year 2026–27. For comparison, it delivered ₹396 crore in FY25, up 72% from ₹230 crore in FY24. Notably, approximately 80% of its revenue is generated through online channels—including e-commerce and quick commerce platforms.
## Deal Process & Timeline
KPMG has been appointed to advise the current shareholders. Preliminary offers are expected by the end of October.
## Why Farmley Is an Attractive Target
The snacking category in India is flourishing, especially among premium and health-conscious segments. For large FMCG groups, acquiring or partnering with established brands like Farmley offers a shortcut into emerging food sub-segments without building new products from scratch.
## Founders’ Position: To Sell or Not?
While early investors are clearly moving to exit, the degree to which founders Sharma and Agarwal will participate remains unresolved. Their current 32% share is central to whether the deal remains a minority sale or shifts to full control.
## What Lies Ahead
– Offers are due by the end of October.
– Decision-makers will decide whether to sell minority stakes or pursue a majority stake acquisition depending on what the founders decide.
– Interested companies will need to assess Farmley’s strong online presence, sales growth trajectory, and positioning in the premium snacks market before finalizing any deal.
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