In a major move to expand its product line, Ghodawat Consumer Limited (GCL), the FMCG division of Sanjay Ghodawat Group (SGG), has acquired Delhi-based start-up “To Be Honest” (TBH), a market leader in India for nutritious and distinctive fruit and vegetable snacks. The acquisition, which was announced on Monday, will allow GCL to enter the health-conscious snacking market, a move that is particularly timely given the increased focus on fitness and wellness.
TBH, which was founded in 2017 by Mayank Gupta, Ritika Agrawal, and Anuj Ghanghoria, all alumni of IIT and IIM, has established itself as a market leader in India for fruit and vegetable snacks, thanks to its innovative vacuum cooking process that helps retain more than 90% of the nutrients from raw fruits and vegetables. The company currently offers ten different varieties of snacks, including ripe jackfruit, taro, purple sweet potatoes, golden sweet potatoes, beetroot, mixed sweet potatoes, chickpeas, and tomatoes.
In addition to its existing line of products, TBH recently expanded its “Ready-to-Cook” product line with the introduction of solar-dehydrated sprouts made with lentils and superfoods. These sprouts can be rehydrated in just five minutes, making them a convenient and healthy snack option.
Since its founding in 2013, GCL has focused on customer-centricity, affordability, and quality, and has established a strong brand identity through its diverse product line which includes staples, impulsive purchases, home care, and personal care. With a revenue of INR 1,400 crore in FY22, the company is on track to reach INR 2000 crore by FY23.
Speaking about the acquisition, Shrenik Ghodawat, Managing Director of GCL, said, “The TBH purchase is quite significant as it allows us an entrée into the health-conscious snacking category. It demonstrates our dedication to improving people’s lives all throughout the world. Our objective is for the customer to use at least one GCL product each day. We are thrilled about this collaboration because TBH has established a specialized reputation in the snacking sector. We are certain that this alliance will elevate the brand’s success and establish it as a household name on a worldwide scale.”
The entire TBH team will join GCL and will be a part of GCL’s Impulse business. The goal of the business is to create a portfolio of wholesome, distinctive, and mouthwatering crunchies that will help GCL dominate the worldwide market for fruit and vegetable health snacks.