French food conglomerate Danone is planning to double its stake in Greek yoghurt-maker Epigamia to 60 percent by buying Belgian private equity company Verlinvest's holding, The Economic Times reported on May 12 citing people familiar with the matter.
Moneycontrol had reported in March 2024 that Belgian investor Verlinvest - the largest external shareholder in new age yoghurt brand Epigamia – has been looking to sell a part of its stake in the company backed by French dairy major Danone and Bollywood actress Deepika Padukone.
Danone is exploring negotiations with Verlinvest for the stake sale which may involve a partial or full divestment by the latter, the news report said. Moneycontrol is yet to independently verify this latest development.
This would mark the revival of the talks which didn't fructify earlier, as reported earlier by Moneycontrol in 2024.
Verlinvest, a consumer sector-focused and family-owned investment holding firm, took an early bet on the Mumbai-based Epigamia in 2017. In March 2019, Deepika Padukone invested an undisclosed amount in the firm through her investment firm KA Enterprises.
Later in September 2019, the investment arm of Danone led a Rs 182 crore investment in Epigamia. In June 2020, there was a top-up round as the firm raised Rs 40 crore from Danone Manifesto and Mousse Partners. Then in 2022, Epigamia raised debt funding of Rs 35 crore from Grand Anicut.
Mumbai-based Epigamia is present in segments ranging from yogurt, curd, and beverages to milkshakes, smoothies and kheer. Epigamia in its original form began as Hoki Poki ice cream and then pivoted to a yogurt brand, as ice-cream business was a more seasonal business.
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