06 June 2019 | News
Move to expand sourcing & distribution footprint
WayCool Foods & Products Pvt. Ltd. has engaged into a business transfer agreement with Farm Taaza, a Bengaluru based fresh produce e-commerce enterprise that works with online and offline retailers and other clients.
The agreement will enable WayCool integrate Farm Taaza’s collection & distribution centres, as well as base of customers across Southern India onto its supply chain platform, increasing its capacity by an additional 40-45 tons per day.
Commenting on this strategic move, Sanjay Dasari, Co-Founder, WayCool Foods said, “We are delighted to bring on board the distribution business of Farm Taaza, one of the first movers and pioneers in the agritech space. We have begun the task of getting the tech and ops teams together, and integrating Farm Taaza’s centres seamlessly into our IT platform. With this, we will be able to increase our procurement base as well as our distribution footprint in specific target markets such as Telangana and Karnataka”
This move enables Waycool to add another building block in its strategy of building out a full stack food supply chain. Earlier this year, WayCool had acquired the distribution business of Aalgro Foods, and had taken significant equity stake in M/s Benani Foods Pvt. Ltd., the promoters of Freshey’s ready-to-cook products.
Kumar Ramachandran, Founder, Farm Taaza, said, “While we have had good success in building a supply chain business in the fresh produce industry, we felt that our core skills lay more in the Tech Space as an enabler for change. We have known WayCool for quite some time and given the robust supply chain they’ve built this far, we felt they would be the best partners to hand over our operations to while we pursue our new initiatives.”
WayCool currently serves a network of around 8,000 clients with 200 tons of food products every day from a base of 35,000 farmers.