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ChrysCapital invests Rs 250 crore in CavinKare

NEW DELHI: FMCG firm CavinKare today said Mauritius-based private equity firmChrysCapital has invested Rs 250 crore in it for an undisclosed stake. 

The company received the PE investment of Rs 250 crore from ChrysCapital in a structured deal, CavinKare said in a statement. 

"This investment will be used to strengthen and expand its (CavinKare's) existing brand portfolio ranging from shampoos, fairness cream, hair colours, deodorants, dairy, snacks, foods and beverages," it added. 

The company, however, did not share stake sale details. JM Financial acted as the sole financial advisor to CavinKare for the deal. 

"The investment from ChrysCapital will give a strong financial boost to the company, given the rapid expansion and diversification undertaken in the last few years," CavinKare Chairman and Managing 
Director CK Ranganathan said. 

He added that the company's objective is to rapidly grow its brand portfolio few notches upwards across different markets. 

"We chose CavinKare because it has high quality, system-driven and highly transparent business practices and is innovative and differentiated in its approach in building product categories," ChrysCapital Nominee Gulpreet Kohli said.