India, June 30 -- Walko Food Company, which owns popular ice cream brands such as NIC Ice Creams, Grameen Kulfi and Mimo Ice Creams, has bought Mumbai-based Meemee's Ice Creams, marking its strategic foray into India's artisanal dessert segment.

However, the company did not disclose the financial terms of the deal.

Walko said in a statement that the acquisition will help it to offer a number of products to its customers under Meemee's house of brand. The deal will also help it to expand its portfolio into toasties, ice cream cakes, roleys and tubsters.

For Meemee's, the buyout will drive its expansion and grow its presence across India with the help of Walko's large supply chain network.

Founded in 2012 by Jitendra Bhandari and Sanjiv...