Mumbai: Ice cream cone manufacturer Homemade Bakers (India) Limited has announced a strategic partnership with Growtheum Capital Partners (GCP) to strengthen and expand its manufacturing footprint across India.
The collaboration aims to scale operations and meet the growing demand within India’s rapidly expanding ice cream ecosystem. The partnership marks a significant step in the company’s growth strategy as Homemade Baker’s continues to build on its three-decade legacy of quality and innovation.
Homemade Bakers Expansion Strategy Backed by GCP Investment
The partnership between Homemade Bakers and Growtheum Capital Partners focuses on accelerating production capacity, enhancing operational efficiency, and introducing innovation across product categories.
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This strategic collaboration leverages GCP’s deep experience in consumer investments and aims to capture the increasing opportunities in India’s fast-growing ice cream market.
India’s Leading Ice Cream Cone Manufacturer
Founded in 1995, Homemade Bakers is one of India’s largest manufacturers of ice cream cones and sleeves, with an annual capacity exceeding one billion cones.
The company has diversified into the In-Mould Label (IML) container segment, catering to large-format and take-home ice cream packs as well as adjacent product categories such as sweets and dates.
With a strong manufacturing presence in North India and a customer base that includes most of the leading national ice cream brands, Homemade Baker’s combines automated production, food-grade printing and lamination, and world-class quality standards to deliver premium, consistent, and reliable packaging solutions.
Rajiv Manchanda, Founder and Director of Homemade Baker’s, said, “We are pleased to welcome Growtheum Capital Partners as our strategic partner. GCP’s extensive experience in the consumer sector and their global perspective will be invaluable as we embark on the next phase of our growth journey. With their support, we aim to accelerate our expansion across India, strengthen operational and management capabilities, and continue delivering high-quality products to meet growing demand.”
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Adding to this, Puneet Manchanda, Promoter and Director at Homemade Baker’s, stated, “This partnership marks a key milestone in our growth journey. With GCP’s strategic support, we plan to expand our manufacturing capacity, enhance process efficiencies, and drive innovation across product categories while maintaining our commitment to quality and service excellence.”
Saurabh Mehta, Managing Director at Growtheum Capital Partners, said, “We are impressed by the operationally efficient and customer-centric business built by the founders of Homemade Baker’s. We are excited to partner with them to strengthen the company’s leadership position, broaden its product portfolio, and deepen relationships with key customers across India.”
Amit Kunal, Managing Partner at GCP, added, “This partnership aligns with our strategy of backing scalable, high-quality businesses that benefit from India’s strong consumption growth story. Ice cream is one of the fastest-growing consumer categories in the country, and our investment in Homemade Baker’s gives us an opportunity to partner with visionary founders expanding a scaled player across India and into regional export markets such as Southeast Asia.”
KPMG in India served as the financial advisor to Homemade Baker’s on this transaction.
