National, October 16th, 2024: Magnus Farm Fresh Pvt Ltd, a leading Indian producer and exporter of fresh fruits and vegetables, has confirmed that Tarun Singh, MD Highbrow Securities has acquired a 3.5% minority stake in the company. Singh, a seasoned investor with over two decades of experience supporting SMEs, seeks to leverage his expertise to accelerate the company’s growth and global expansion. The partnership also includes plans for product innovation, with a potential follow-up investment of USD 3 million within the next year, underscoring Singh’s commitment to the long-term success of Magnus Farm
The investment will accelerate Magnus Farm’s expansion, allowing it to diversify its product offerings and expand its workforce. Funds will be used to develop a state-of-the-art processed food line including Individually Quick Frozen (IQF), frozen, and retort products, as well as cultivate new fruit varieties, accelerating its global export capabilities and market presence.
With a network of over 3,000 growers across Maharashtra’s prime agricultural districts including Nashik, Sangli, Solapur, Pune, Osmanabad, and Ahmednagar; Magnus Farm has established a strong presence in key global markets, such as Europe, the UK, Russia, Southeast Asia, Canada, and the Middle East, supplying fresh produce to major supermarket chains like Edeka, NETTO, Superunie, Aldi, Lidl, Rewe and X5.
India’s food processing and export industry is experiencing robust growth, driven by increasing global demand for premium-quality produce. Magnus Farm’s solid foundation and industry leadership position it well to capitalize on this momentum, making it an ideal choice for Singh’s strategic investment.
Mr. Tarun Singh explained, “My decision to invest in Magnus Farm stems from the food industry’s fundamental and timeless relevance. While other sectors can be unpredictable, the food sector offers a steady, and reliable growth, akin to the tortoise’s consistent pace in the fable. Magnus Farm impressed me with its compelling valuation, strong leadership, and innovative business model. I’m confident of their potential to lead the market. With my experience in the European food sector, I look forward to supporting their global expansion and helping them unlock new opportunities internationally.”
Since its inception, Magnus Farm has achieved impressive growth, increasing its revenue approximately 3 times from over INR 53 crore in FY 2020-21 to INR 150 crore in FY 2023-24. Mr. Singh further highlighted, “The company’s growth underscores the company’s robust expansion strategy and its ability to cater to both domestic as well as international markets and expand into high-demand regions like the Middle East and Southeast Asia.”
Laxman Savalkar, Founder and Director of Magnus Farm, echoed Mr. Singh’s sentiment and stated , “We are thrilled to welcome Mr. Tarun Singh as both an investor and strategic partner in Magnus Farm. His vast experience and deep insights will play a pivotal role as we drive forward our expansion plans and enhance our product range. Magnus Farms is committed to driving innovation and playing a pivotal role in India’s agriculture and food export sector by scaling to new heights in the global export market. With our association, we are excited about the next phase of growth and the opportunities that lie ahead for Magnus Farm.”
As part of its growth strategy, Magnus Farm is expanding its farmer networks and integrating advanced technology to optimize crop cycles. With a plan to increase its farmer base to 10,000 in the next two years, the company aims to ensure fair pricing, timely payments, and greater transparency across its supply chain. Magnus Farm’s commitment to innovation and sustainability is set to drive substantial growth across both domestic and international markets.
The investment in Magnus Farm reflects Tarun Singh’s strategic vision and commitment to driving value in the agri-sector. Known for his deep market insights and foresight, Singh has consistently demonstrated his ability to scale businesses and create long-term growth for his portfolio companies.
Singh’s track record is exemplified by his early investment in Srivari Spices & Foods Ltd., where he played a pivotal role in shaping the company’s growth strategy. By providing both strategic capital and guidance, he positioned Srivari for an immensely successful IPO, which yielded substantial returns on his investment and even managed to raise a subsequent round of funding through Rights Issue within a year of public listing.