Commenting on the acquisition, Sumedha Singhal, director, Nirula’s and a member at BanyanTree Growth Capital said, “Nirula’s sells icecreams, pizzas, and burgers. Angels is a bakery and confectionery brand. They are both different genres of food. Additionally, Icecream is the bulk of Nirula’s business and is a Holi to Diwali business, while Angels, a confectionary brand, is a Diwali to Holi business. So, the seasonality evens out and complements each other well.”