Fast moving consumer goods major CavinKare has bagged Rs 250 crore of private equity investments from Mauritius-based firm ChrysCapital in a "structured deal" in order to strengthen its brand portfolio, a company official said today.
"Our objective is to rapidly grow company's brand portfolio few notches upwards across different market. In ChrysCapital we have found a partner who shares the similar values and vision..," CavinKare Pvt Ltd, Chairman and Managing Director, C K Ranganathan said.
JM Financial was the financial advisor to CavinKare in the "structured deal", the Chennai-based company said in a statement.
"The FMCG market in India is looking at exponential growth with the size of demographic potential. We chose CavinKare because it has high transparent business practices and is innovative and differentiated in its approach in building product categories..," Nominee of ChrysCapital on Board the Company, Gulpreet Kohli said.
ChrysCapital manages USD 2.5 billion in various sectors in India including consumer goods, financial services, healthcare, business services among others, the release added.
