IDAM ‘House of Brands’ takes majority stake in chocolate maker MeeSoGood

IDAM Natural Wellness Pvt. Ltd, the parent company of direct-to-consumer (D2C) personal care brand Bella Vita Organic, has acquired around 60% of the equity in MeeSoGood, a chocolate and coffee brand, for an undisclosed amount, the company said in a statement.

The strategic acquisition was carried out by IDAM to primarily help MeeSoGood meet the growing demand for volumes and access various markets across India. This was IDAM’s second acquisition to date.

“With this acquisition, IDAM is taking its first step into the F&B industry. Aakash and I are excited about this company, as we share a similar vision with MeeSoGood, where we instill a consumer-centric approach and a commitment to making premium products at affordable prices all over the world, ”said Saahil Nayar, Co. -Founder & COO of IDAM House Of Brands.

MeeSoGood was launched by Vivek Chaturvedi and his wife Deepali Chaturvedi in April of this year. The duo first made chocolates by hand in their own kitchen. After various trials and positive feedback from friends and family, the startup began offering the product through its own site and marketplaces, the statement said.

“As a chocolate and coffee lover, I have noticed a lack of top-quality, yet affordable products for the general public. Additionally, with the help of IDAM House Of Brands and their expertise, we look forward to showcasing our local brand and its premium product line to consumers around the world, ”Chaturvedi said.

MeeSoGood chocolates are available in a variety of flavors such as almond, hazelnut, mint, paan, and fruits and nuts, mixed with pure cocoa. He claims his coffee is made from 100% pure Arabica coffee beans and contains no added sugar, preservatives or artificial colors, the statement said.

The Gurgaon-based company can be accessed on Amazon and Flipkart, in addition to its own website, and will soon launch the product in Krishna Mart, Le Marche and other well-known retail stores and supermarkets, the statement said.

In October, IDAM announced the acquisition of pet welfare company Petveda.

Bella Vita Organic was launched in 2018 by Anand. In July of this year, the company raised $ 10 million (Rs 74.7 crore) in its first round of institutional funding from Ananta Capital, a private equity (PE) platform backed by the Taparia family. of Famy Care Group based in Mumbai.https: //

The company offers more than 55 products, including a line of perfumes and essential oils. He claims to be on track to cross Rs 100 crore in the annualized income rate. Besides its app and website, the brand can be accessed on Amazon, Nykaa, Flipkart, Purplle, and other marketplaces.

Several companies in the beauty and personal care category are trying to switch to a “house of brands” model to retain customers through differentiated offers available under the same platform. Other players in the category include Good Glamm Group, Mamaearth and Nykaa, among others.

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Virginia C. Taylor