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Bengaluru-based fresh food brand iD Fresh Food has appointed Rajat Diwaker as the India CEO, while PC Musthafa assumes the role of global CEO. Diwaker, an industry veteran with over two decades of experience in FMCG, previously served as the Managing Director of Marico Bangladesh Ltd, and is a director on the board of FICCI in Bangladesh.
Musthafa, who led iD Fresh for nearly two decades, transitions to the global CEO position while continuing as the Chairman of the Board. His responsibilities include overseeing global expansions, building food-tech capabilities, strategic acquisitions, nurturing organisational culture, and driving innovations for the global market.
As part of its growth strategy, iD Fresh Food plans to appoint dedicated business heads and CEOs for each international market, currently in the process of hiring a US CEO. With over a third of its revenues coming from outside India, the company aims to enter new markets like Singapore and Australia in 2024 while expanding its presence in existing markets.
PC Musthafa, Global CEO, iD Fresh Food, said: “I am delighted to welcome Diwaker to our 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.”
The latest announcement comes at a time when consumer demand for fresh, healthy foods and opportunities for growth in international markets have reached unprecedented levels. To leverage this growth, the company also plans to roll out an IPO over the next three to four years.
“I am very excited to assume this responsibility. My focus will be on accelerating innovation, portfolio expansion, widening distribution, and expanding the manufacturing footprint, thereby creating more value and impact on consumers, team members, and shareholders alike,” said Diwaker.
In 2022, the company secured Rs 507 crore in a Series D funding round, led by a global private equity firm with a focus on the Asia-Pacific region, along with existing investor Premji Invest.
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