NIC Ice Cream’s parent Walko acquires Meemee’s Ice Creams

Walko Food Company, the parent of premium ice cream brand NIC, has acquired Mumbai-based Meemee’s Ice Creams, a move that signals its foray into India’s burgeoning artisanal dessert market.

Founded in 2012 and headquartered in Pune, Walko is known for brands such as NIC Ice Creams, Grameen Kulfi, and Mimo. With this acquisition, it adds Meemee’s experimental and youth-centric formats—Toasties, Ice Cream Cakes, Roley’s, and Tubsters—to its growing portfolio. The terms of the deal were not disclosed.

The acquisition aims to bolster Walko’s presence in urban markets and enhance its digital-first and Direct-to-Consumer (D2C) distribution channels, the company said. "This acquisition is a strategic step towards dessert consumption," said Raj Bhandari, director at Walko. “As consumer preferences shift toward authenticity and experiential indulgence, Meemee’s youthful energy and innovation-first approach align seamlessly with our vision.”

Founded in Mumbai, Meemee’s has carved a niche among younger consumers through its playful, unconventional formats and social media-savvy branding. Its product line bridges traditional and modern dessert experiences, with offerings that span from layered ice cream cakes to on-the-go mini-dessert tubs.

Meha Agarwal, Meemee’s founder, said the deal would enable the brand to scale its reach nationally. “Walko’s vision and distribution expertise allow us to focus on crafting innovative flavours while reaching freezers and hearts across India,” she said.

India’s ice cream and frozen dessert market is valued at Rs 44,000 crore (approximately $5.33 billion) and is projected to grow at a compound annual rate of 11% through 2028, according to industry estimates. The segment is witnessing a gradual shift from mass-market products to more niche, experience-driven formats, especially in Tier 1 and Tier 2 cities.

Walko’s products are currently available in over 100 cities, with distribution across modern retail chains and quick-commerce platforms such as Swiggy, Zomato, Amazon Fresh, and Big Basket.