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CavinKare Pvt.Ltd. today announced it raised Rs.250 crore from ChrysCapital, a Mauritius-based firm in a structured deal. This investment will be used to strengthen and expand its existing brand portfolio ranging from shampoos, fairness cream, hair colours, deodorants, dairy, snacks, foods and beverages.
JM Financial acted as the sole financial advisor to CavinKare.
Commenting on the development, C K Ranganathan, Chairman & Managing Director of CavinKare Pvt.Ltd said, “the investment from ChrysCapital will give a strong financial boost to the Company, given the rapid expansion and diversification undertaken in the last few years. Our objective is to rapidly grow the company’s brand portfolio few notches upwards across different markets. In ChrysCapital we have found a partner who shares the similar values and vision”.
Gulpreet Kohli, Nominee of ChrysCapital on the board of the Company said “ChrysCapital is very optimistic about its latest investment. The FMCG market in India is looking at exponential growth with the size and demographic potential. We chose CavinKare because it has high quality, system-driven and highly transparent business practices and is innovative and differentiated in its approach in building product categories.”
