Tata Consumer Products is acquiring 100% equity stake of Capital Foods Private Limited through secondary purchase of shares from the promoter and existing shareholders of CFPL.
Tata Consumer will initially buy a 75% stake in Capital Foods from its existing shareholders including Ajay Gupta (the founder of Capital Foods), General Atlantic and the Invus Group, at an enterprise value of ₹5,100 crore.
The remaining 25% will be acquired within three years, as Tata Consumer seeks to enter new high-growth categories in the food and beverage space.
Anagram Partners acted for Ajay Gupta, the founder of Capital Foods, and Ajay Gupta’s family office.
The transaction team consisted of Ankit Mishra (Partner), Aditi Tralshawala (Pricipal Associate) and Aashna Kothari (Senior Associate).
Khaitan & Co advised Tata Consumer Products in preparing due diligence report basis the VDDR provided by seller counsel, documentation and negotiation of offer letter during the bidding process and the transaction documents, which includes the share purchase agreement, shareholders agreement, etc.
The transaction team was led by Haigreve Khaitan (Partner), Surbhi Kejriwal (Partner) and Anshuman Mozumdar (Partner) with assistance from Aadhya (Principal Associate), Akash Srinivasan (Senior Associate), Vedika Bhandari (Senior Associate), Nikhil Singh (Associate) and Sanket Pargaien (Associate).
Intellectual Property aspects: Shailendra Bhandare (Partner), Sourav Dan (Principal Associate) and Kinjal Parikh (Associate)
Diligence team comprised of: Amit Haresh Wadhwani (Partner), Anshul Prakash (Partner), Abhisek Choudhury (Principal Associate), Supallab Chakraborty (Senior Associate), Ajeta Anand (Associate), Chaitanya Deshpande (Associate) and Paras Shah (Associate)
Litigations involving the target: Kingshuk Banerjee (Partner) and Zacarias Joseph (Principal Associate)
Competition law aspects of the transaction: Anshuman Sakle (Partner) and Alisha Mehra (Senior Associate)
Tax related matters of the transaction: Vinita Krishnan (Executive Director) and Rahul Jain (Principal Associate)
Capital Foods manufactures packaged food and condiments such as chutney, sauces and noodles under their "Ching's Secret" and "Smith & Jones" brands.
This is Tata Consumer Products' biggest acquisition yet in terms of deal value.
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