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Last Updated : Mar 16, 2018 11:55 AM IST | Source:

General Atlantic eyes acquisition of Ching’s Secret maker Capital Foods

The private equity company is likely to buy an 80 percent stake in Capital Foods.

Moneycontrol News @moneycontrolcom

New York-based private equity firm General Atlantic is in advanced talks to buy a controlling stake in Capital Foods Pvt. Ltd, according to a Mint report.

Capital Food owns instant noodles brand Ching's Secret. It also owns Smith and Jones brands of pasta masala, cooking paste and ketchup.

The deal will value the company at Rs 1,500 crore, a source told the paper.

General Atlantic is likely to buy an 80 percent stake, purchasing the stakes of Invus Group and Capital Foods promoter Ajay Gupta, the report added.

Invus Group holds a 44 percent stake in the company while Gupta owns 56 percent.

Boston-based TA Associates is also interested in buying a stake in Capital Food, the report added.

General Atlantic and TA Associates declined to comment, while Invus Group and Ajay Gupta did not respond, the report said.

This transaction won't be General Atlantic's first deal in India. The company has investments in NIIFL Wealth Management, Mu Sigma, House of Anita Dongre and rsetaurant chain Absolute Barbecue.

In 2013, Kishore Biyani's Future Consumer Enterprises Ltd had sold their 444 percent stake in Capital Foods for Rs 180 crore.
First Published on Mar 16, 2018 11:55 am
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