ADV, Premji acquire India manufacturer

This is the nineth Indian investment for Hong Kong-based ADV, which closed its second fund at $637 million in 2019. Vijendra Babu, a 25-year veteran in the industry, will continue to retain stake in the business and lead the company.

MPPL operates five manufacturing facilities in and around Bengaluru offers an integrated one-stop service for customers such as toymakers Hasbro and Mattel. Operations span designing and shipping final products. In addition to toys, it focuses on model hobby kits and sports equipment.

The company claims to have grown revenue by more than 20% a year during the past five years. It said it would use the proceeds from the latest investment to advance a significant expansion, including the development of new factories to cater to increasing demand. Growth areas are expected to include healthcare, sports, and other consumer categories.

“Under the leadership of Mr. Babu, MPPL has scaled to become the largest toy manufacturer in India over the past few years,” Premji said in a statement. “With the government’s push towards local manufacturing, and global customers increasing their outsourcing to India, our intent is to further develop MPPL as a trusted partner in delivering quality products consistently with the highest standards of ethics and governance.”

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• Topics
• South Asia
• Buyouts
• Industrials
• India
• ADV Partners
• manufacturing