Trade Resources Company News Bector's Food Is Evaluating Plans to Sell Majority Stake in Its Biscuit Busines

Bector's Food Is Evaluating Plans to Sell Majority Stake in Its Biscuit Busines

Bector’s Food, an Indian-based biscuits, bakery products and condiments manufacturer, is evaluating plans to sell majority stake in its biscuit business and is currently in preliminary talks with private equity investors.

The development comes as the de-merger of business was completed recently, according to sources familiar with the matter. The company has appointed Avendus Capital to advise it on the deal.

The biscuit business contributes about INR4.5bn - INR5bn to annual sales of the company.

Motilal Oswal Private Equity, which owns about 23% stake in the company, will sell its share along with other promoters of the company, the sources added.

The equity firm acquired the stake in Bector's Food for INR700m from American multinational investment banking firm Goldman Sachs which invested in the food firm in 2006.

Bector's Food is a supplier of buns, liquid condiments, batter and breading under the Cremica brand, which also includes products such as breads, sauces, bread spreads, ready-to-eat curries and syrups.

 

Source: http://bakeryandcereals.food-business-review.com/news/bectors-food-to-divest-biscuits-business-to-private-equity-investors-120913
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Bector's Food to Divest Biscuits Business to Private Equity Investors