: Ending four years of association with FMCG major CavinKare, private equity firm ChrysCapital, which had invested Rs 250 crore in the company, has exited from the firm.
CavinKare Pvt Ltd. Chairman and Managing Director C K Ranganathan has taken over the stakes held by ChrysCapital and consolidated his ownership in the company to "one hundred per cent", a company statement said.
In 2013, ChrysCapital had invested Rs 250 crore in CavinKare. The investment came at a time when the city-based company was looking at strengthening its focus on "strategic direction and results".
"The investment by ChrysCapital delivered a little over two times of return in less than four years", it said.
"Chryscap played an excellent catalytic role. They triggered the needed change which led to a wonderful performance", Ranganathan said.
CavinKare witnessed a 15 per cent growth in the last few quarters and has presence in dairy, snacks, food and beverage business, the statement added.
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