With this acquisition, Advent International Corp which earlier held a 73.70 per cent stake in DFM Foods through its subsidiary AI Global Investments (Cyprus) PCC now holds 96.18% stake in the firm. The tendering window was opened on 13 December and ended on 5 January.
Capacity expansion, wider distribution network, and increased exports to help the company deliver double-digit growth in the medium term
The discovered price came in at Rs 525 a share. Advent Intl has now made a counteroffer of Rs 467 a share
Bikaji Foods International is poised for an industry-leading growth, supported by increased capacity utilisation, higher distribution reach and huge scope for gains from the unorganised segment, in the next few years
Advent, via its affiliate AI Global, will acquire all equity shares held by public shareholders, a regulatory filing said. Consequently, DFM Foods will voluntarily delist from the stock exchanges, it added.
DFM Foods stock has been languishing close to the price at which private equity Advent International acquired it in 2019.
Mrs Bectors Food is expected to grow in mid double-digits in the medium term, which would be higher than industry growth
With new professional management team's focus on product introductions, enhancement of distribution reach and increased technology adoption, we expect DFM Foods to resume high growth trajectory
With a new management at the helm, DFM Foods' return ratios are among the highest in the snacking industry and comparable to leading FMCG players
Ashish Kacholia increased stake in DFM Foods, the snack foods manufacturer, to 2.84 percent in the September quarter
Moneycontrol's Sakshi Batra does a 3-Point Analysis on the Q2 performance and the outlook of DFM Foods and Prataap Snacks.
The open offer for 1.3 crore shares having a face value of Rs 2 each at an offer price of Rs 249.50 per equity share. However, it is lower than Rs 270.20 at which DFM Food shares closed on BSE on Monday.
The filings showed that the US investment firm has entered into a share purchase agreement with promoters Mohit Jain and Rohan Jain to acquire around 38 per cent stake.