Baker’s and Growtheum Capital Partners Announce Strategic Partnership to Deliver on the Growing Volume and Quality Requirements of India’s Ice Cream Ecosystem
New Delhi, 1st November, 2025: Homemade Baker’s (India) Limited (“Homemade” or the “Company”) and Growtheum Capital Partners (“GCP”) today announced a strategic partnership aimed at accelerating Homemade’s pan-India expansion. The collaboration will strengthen the Company’s manufacturing footprint and enhance its ability to meet the growing volume and quality demands of India’s rapidly evolving ice cream ecosystem.
Founded in 1995, Homemade is one of India’s leading manufacturers of ice cream cones and sleeves, with an annual production capacity exceeding one billion cones. The Company has also diversified into the IML (In-Mould Label) container segment, catering to large-format and take-home ice cream packs as well as adjacent categories like sweets and dates. With a dominant manufacturing presence in North India and a customer base comprising major national ice cream brands, Homemade combines advanced automation, food-grade printing and lamination, and a baking legacy spanning three decades to deliver international-quality products and outstanding service.
Rajiv Manchanda, Founder and Director of Homemade, expressed his enthusiasm about the partnership, saying:
“We are delighted to welcome Growtheum Capital Partners as our strategic partner. GCP’s deep expertise 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 our operations and management capabilities, and continue delivering high-quality products to meet the growing demand from our customers.”
Puneet Manchanda, Promoter and Director of Homemade, added:
“This partnership marks a pivotal milestone in Homemade’s growth journey. With GCP’s strategic support, we will scale our manufacturing capacity, enhance process efficiencies, and drive innovation across product categories. Our continued focus will be on delivering superior quality and reliable service to our customers nationwide.”
Saurabh Mehta, Managing Director at GCP, shared his perspective on the partnership:
“We are highly impressed by the operational excellence and strong customer-centric approach demonstrated by Homemade’s founders. We are excited to partner with them to further strengthen the Company’s leadership position, expand its manufacturing footprint across India, broaden its product portfolio, and deepen relationships with key customers. Our goal is to support Homemade in becoming the preferred partner for national, regional, and emerging ice cream brands across the country.”
Amit Kunal, Managing Partner at GCP, added:
“This partnership aligns with our strategy of investing in high-quality, scalable businesses benefiting from India’s robust consumption growth. The ice cream segment is among the fastest-growing consumer categories in India. Through this investment, we look forward to supporting Homemade’s nationwide expansion and exploring regional export opportunities, including Southeast Asia.”
