 "India Agri Business Fund II to invests $15 million in Cremica Food")
Private Equity Fund India Agri Business Fund II will invest $15 million (Rs 101 crore) to acquire minority stake in FMCG firm Cremica Food Industries.
"Rabo Equity Advisors, Investment Advisors for India Agri Business Fund II, has announced an investment of $15 million into Cremica Food Industries for acquisition of a minority stake by the fund," Cremica Food said in a statement.
Cremica - whose product range include chips, sauces, sandwich mayonnaise, salad dressings and syrups - is eyeing Rs 1,000 crore turnover by 2020.
India Agri Business Fund II is a $200 million private equity fund targeted at expansion and growth of Indian food and agri-business companies in India. It is sponsored by Rabobank along with pedigreed institutional investors.
This is the first investment by India Agri Business Fund II.
Rabo Equity Advisors, managed by Rajesh Srivastava, advises two funds in India, IABF-II and IABF-I.
India Agri Business Fund (IABF) I - a $120 million fund which is fully invested in companies like Prabhat Dairy, NCMSL, LT Foods, Daawat Foods, Vacmet, Global Green, among others, and the recently raised - IABF II.
The fund has a long-term 'Knowledge Sharing Agreement" with Rabobank.
