McCain Foods Expands in India with Falcon Agrifriz Purchase

On a bright Monday in New Delhi, the mood was noticeably lighter. Canada’s new trade minister, Maninder Sidhu, was kicking off a high‑profile trade mission, and just as the press conference wrapped, Toronto‑based McCain Foods announced a deal that had been whispered about for weeks.

The company said it will acquire Falcon Agrifriz Foods’ potato‑processing operations in Gujarat. The assets include a state‑of‑the‑art plant that opened last year after a $155 million investment, plus a sprawling supply network that reaches more than 1,000 farms across the region. While neither side disclosed the price tag, the move instantly added roughly 450 employees to McCain’s Indian roster.

McCain isn’t a stranger to the subcontinent. It first set foot in India back in 1998 and today employs about 1,800 people, sourcing potatoes from some 2,500 local growers. “India is a priority growth market for McCain and one where we have invested for nearly three decades,” said Max Koeune, the company’s chief executive, in an e‑mail to reporters. “Our acquisition of Falcon Agrifriz is the latest step in that journey and reflects our confidence in the market’s long‑term growth potential.”

The timing feels symbolic. Earlier this year, Prime Minister Justin Trudeau’s delegation, led by former Finance Minister Mark Carney, travelled to New Delhi to mend fences after a diplomatic row in 2023 that saw both countries expel each other’s diplomats over the killing of Sikh activist Hardeep Singh Nijjar. As the political climate thawed, business leaders sensed an opening.

For McCain, the acquisition is more than just a purchase of equipment. Falcon Agrifriz brings its own portfolio of branded fries—Just Crave, Bon Vegato, Just Fries—and a solid foothold in the food‑service market, where it supplies restaurants and exports to the Middle East, Southeast Asia and Australia. The family‑owned Falcon Group, run by the second generation of the Patnaik family, has roots in seafood, real estate, animal feed, tech and even steel‑fabrication, underscoring the diversity of Indian conglomerates.

McCain isn’t stopping at Gujarat. The company has already announced plans for a new processing plant in Madhya Pradesh and completed a $135 million expansion of its existing Gujarat facilities earlier this year. Its Indian catalogue now stretches beyond classic frozen fries to include cheese, vegetable products and a line of “Flavours of the World” snacks such as Masala Fries and Chili Garlic Potato Bites.

India’s burgeoning middle class—roughly 400 million strong—offers a tantalising market for frozen foods. McCain hopes to serve both domestic consumers and export partners, while also feeding ideas back to Canada. “The relationship works both ways,” Koeune added, noting that Indian‑inspired concepts are already finding a place on Canadian supermarket shelves.

McCain’s story fits a larger trend. Since 2016, India has relaxed rules that once barred foreign firms from owning food producers outright, inviting a wave of investment from global players and private‑equity houses. The past year alone saw Singapore’s Temasek lead a $10 billion‑valued deal for snack‑maker Haldiram, and New York‑based General Atlantic taking a stake in Balaji Wafers.

With more than 20 000 employees worldwide, $16 billion in annual sales and a presence in 160 countries, McCain remains the world’s largest frozen‑fry producer. Its latest move into Gujarat signals that the company sees India not just as a market to sell to, but as a partner in shaping the next generation of potato‑based convenience foods.