CLSA Capital Partners invests $10m in India’s Nobel Hygiene
CLSA Capital Partners has invested $10 million in Nobel Hygiene Private, an Indian manufacturer of diapers for adults and babies
The investment was made though ARIA Investment Partners IV, a fund that focuses on Asian mid-market companies.
Nobel Hygiene set up its first manufacturing plant in Mumbai in 2010. It sells adult diapers, underpads and inserts under the brand name ‘Friends', and baby diapers and nappy pads under the ‘Teddy' brand. The firm claims revenue has grown at a compound annual growth rate (CAGR) of 40%.
"This investment continues more than a decade of successful investing by ARIA Funds in leading consumer businesses in India and the region," Miranda Tang, managing director of the ARIA Funds, said in a statement. "Changing lifestyles, evolving social habits and a favourable demographic structure, coupled with low diaper penetration, has resulted in diapers being one of the fastest growing categories in the fast-moving consumer goods (FMCG) segment in India."
The investment will be used to scale up Nobel Hygiene's operation and enhance its brand.
Operating offices in Hong Kong, Singapore and Tokyo, CLSA Capital Partners manages approximately $2.6 billion across five investment vehicles. In addition to ARIA, it also runs real estate fund Fudo Capital, Japan-focused Sunrises Capital, Clean Resources Asia Growth Fund, Pacific Transportation and global industrials investment fund - Nexen Global Co-Investment Fund.
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