Press Release (ePRNews.com) - PUNE, India - Oct 26, 2016 - KOLKATA: MOPE Investment Advisors Private Limited (MOPE) has announced that its India Business Excellence Fund – II and India Business Excellence Fund – IIA, have invested Rs 100 crore for a minority stake in Ganesh Grains Ltd, a Kolkata-based company engaged in the business of manufacturing and selling of branded food staple. This is the first time the company has raised private equity capital.
Established in 1936, Ganesh Grains Limited is one of the oldest and the largest staple brand in eastern India with a strong presence in West Bengal. It operates through a very strong supply chain network, with more than 35,000 retailers in these regions. The company also has 8 states of the art manufacturing facilities in West Bengal, Uttar Pradesh & Andhra Pradesh and offers a complete product basket of food staples such as branded Atta, Maida, Sujee, Sattu etc under the brand ‘Ganesh’.
Mr. Vishal Tulsyan, managing director, and CEO of MOPE commented, “We are pleased to be part of what we believe is one of the fastest growing food staple brands in the country. The brand ‘Ganesh’ has become synonymous with high-quality products at affordable prices and remains an endearing brand to its target customers. The food staples industry is undergoing a fundamental transformation. The combined effects of demographic shifts & rise of new consumption centers will have a profound impact on the shape of demand over the next few decades. MOPE continues to back high-quality, local entrepreneurs to build large businesses based on this investment theme. Through this partnership with Ganesh Grains, we intend to help create a large, differentiated leader in India’s food staple industry”.
Mr. Manish Mimani, Managing Director of Ganesh Grains says, “Partnering with MOPE will help the company achieve its three-dimensional goal of becoming the fastest growing food staple business in the country while continuously improving its market share and strengthening the ‘Ganesh’ brand. The MOPE teams’ partnership approach, along with proactive growth focus, will provide the necessary impetus for Ganesh. The funds will be used for expansion of capacity, deepening the distribution network and brand building which will help us serve our customers better and create value for all the stakeholders of the Company.”
Rabo Bank acted as an exclusive financial advisor to Ganesh Grains for this transaction.
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