Major Private Equity Firms Seek CCI Nod for Theobroma Stake Acquisition
Three private equity firms, including Infinity Partners and Atreides Investments, are seeking approval from the CCI to acquire stakes in Mumbai-based bakery chain Theobroma. ChrysCapital is leading the acquisition, aiming for a 90% stake worth approximately Rs 2,410 crore. The founders will retain 10% ownership.
- Country:
- India
In a significant move in the Indian bakery sector, three private equity giants, namely Infinity Partners, Atreides Investments, and Aqua Investments Ltd, have approached the Competition Commission of India (CCI) for the approval to acquire stakes in the renowned Mumbai-based bakery chain, Theobroma.
Reports have emerged suggesting that ChrysCapital is poised to secure a 90% stake in Theobroma Foods, with the transaction valued at approximately Rs 2,410 crore. The existing promoters and investor ICICI Venture will relinquish most of their holdings, while the founders, Kainaz Messman Harchandrai and Tina Messman Wykes, will retain a 10% stake.
Theobroma, established in 2004, operates over 30 outlets across India and through online platforms. Despite the merger, the participating private equity firms assured that the acquisition will not adversely affect market competition.
(With inputs from agencies.)
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