FMCG majors in race for big bite of snacks brand Farmley

Mumbai: A clutch of leading FMCG majors, including Emami, ITC, Britannia and Orkla India, are keen on a significant stake in healthy snacking brand Farmley, multiple people aware of the development told ET. This deal may value Farmley at ₹2,000 crore, they said.

A group of early investors holding a combined 31% stake in Farmley have put their shares on the block. However, it remains unclear whether the founders will also look to sell their holdings, which could turn the transaction into a majority stake sale. Founders Akash Sharma and Abhishek Agarwal together hold a 32% stake in the company.

"Farmley is exploring a dual-track sale process, with options ranging from a minority stake divestment to a majority stake sale," said a source close to an FMCG company seemingly interested in Farmley.


KPMG is advising the initial investors, while preliminary bids are due October end.

At present, about 31% stake in Farmley is held by a bunch of investors, Tracxn data showed. They include Omnivore Partners, DSG Consumer Partners, Alkemi Growth Capital, Insitor Partners, Indigram Labs and Trifecta Capital. Another investor L Catterton, part-owned by LVMH and Groupe Arnault, owns a 21% stake. L Catterton is unlikely to sell its stake in this round. Remaining stake is held by enterprises, angel investors and Esop pool.

Farmley was founded in 2017 by IIT alumni Akash Sharma and Abhishek Agarwal, as a B2B business-primarily supplying dry fruits and nuts to retail ventures. In 2021, it pivoted into a consumer facing D2C brand.

In 2025, L Catterton invested approximately ₹194 crore in a Series C funding round to acquire a 21% stake in the company, valuing it at ₹944 crore. The ₹223-crore round also saw some existing investors partially exit, while DSG Consumer Partners increased its stake.

Farmley is expected to post a revenue of ₹700-750 crore in FY27, added sources. In FY25, the company made a revenue of ₹396 crore, up 72% from ₹230 crore in FY24. About 80% of the revenue comes through online sales-ecommerce and quick commerce sites.

Mails and text messages sent to founders Akash Sharma and Abhishek Agarwal on Friday remained unanswered until the publication of this report. Mails sent to DSG Consumer Partners, Omnivore, Alkemi, Trifecta Capital, Insitor Partners, Britannia, Emami, and Orkla did not elicit any responses. An ITC spokesperson declined to comment.

The snacking market has emerged as a focus area for FMCG majors, which are increasingly looking to acquire brands in emerging, premium food categories rather than build them from scratch.