India, Oct. 30 -- Hyderabad-based dairy company Heritage Foods yesterday said that its board approved a proposal to acquire a controlling (51% stake) in D2C dessert brand Get-A-Way's parent, Peanutbutter and Jelly Pvt. Ltd, for INR 9 Cr.

In a filing with the exchanges, the listed dairy company said that it has signed a share purchase agreement to acquire the stake via secondary buyout from existing backer Sky Gate Hospitality Pvt Ltd.

It is pertinent to note that Sky Gate Hospitality owns Biryani By Kilo (BBK). The cloud kitchen startup acquired a majority stake in the healthy dessert startup in 2022 for $2 Mn.

In a statement, Heritage Foods said that the remaining 49% shareholding will continue to be held by the original promoters. Ho...