Kerala’s packaged food industry is witnessing another major consolidation move, with leading regional brand Double Horse attracting acquisition interest from two of India’s largest business groups. Wipro Consumer Care and the Murugappa Group are reportedly competing to acquire Manjilas Food Tech Pvt. Ltd., the company behind the well-known Double Horse brand.
Industry sources estimate the deal could be valued at around ₹500 crore. The company has appointed global consulting firm EY to oversee the transaction, and discussions with shortlisted bidders are currently underway. While negotiations are progressing, a final agreement has not yet been announced.
The potential acquisition reflects a broader trend in India’s fast-moving consumer goods (FMCG) sector, where established companies are increasingly choosing to acquire successful regional brands rather than building new ones from scratch. Strong consumer loyalty and an expanding packaged food market have made South Indian food brands particularly attractive investment opportunities.
Founded in 1959, Double Horse has built a strong reputation across South India with a diverse portfolio that includes breakfast mixes, rice powders, spice blends, pickles, and ready-to-cook products. The brand competes with several established names in the regional food market and has become a familiar presence in households both in India and among the global Malayali diaspora.
For Wipro Consumer Care, the acquisition would further strengthen its packaged food business. The company has already expanded its presence in Kerala through investments in well-known brands such as Nirapara and Brahmins.
Meanwhile, the Murugappa Group is also looking to expand its food and agri-business operations through its subsidiary, EID Parry. Acquiring a trusted regional brand like Double Horse would support its strategy of building a stronger footprint in India’s growing packaged food segment.
The outcome of the bidding process is expected to be closely watched, as it could mark another significant chapter in the consolidation of South India’s food processing industry.
