Advent buys minority in Iscon Balaji Foods at $150M, anchoring $215M round with 360 One

Gujarat-based Iscon Balaji Foods, maker of Hungritos frozen potato snacks and a QSR supplier, lands $150M from Advent within a $215M round co-backed by 360 One. Capital targets capacity in the $60B global frozen potato market, where IBF competes with McCain and HyFun.

— Source publishedTue, 19 May, 2026, 20:39 IST·First seen Wed, 20 May, 2026, 06:27 IST·Source Times of India · Business

What happened

Advent acquired a minority stake in Gujarat-based Iscon Balaji Foods for $150 million, part of a $215 million round also backed by 360 One. IBF makes frozen

Key facts

  • $150 million
  • $215 million
  • $60 billion global frozen potato market
  • $10 billion Haldiram valuation

Why this matters

Advent taking a minority at $150M sets a clear valuation marker and likely accelerates roll-up activity among regional frozen-snack and QSR-supply targets in India.