Kedaara invests $32m in Indian packaging firm

It is not yet clear whether the investment represents an exit for ChrysCapital. The GP invested $25 million in the firm in June, 2006 in exchange for a 21% stake, according to AVCJ Research.

Set up in 1996, Parkson supplies packaging to companies in the pharmaceuticals, fast-moving consumer goods, household and personal care product sectors. It has three manufacturing facilities across India.

"This is an opportune time to invest in the Indian packaging sector, with Parksons being well-positioned to benefit from the growth in the Indian consumption story," said Manish Kejriwal and Sunish Sharma, managing partners at Kedaara, in a joint statement.

This is the GP's third investment. In December the GP picked a undisclosed stake in non-banking finance company (NBFC) Au Financiers; before that it invested around INR2 billion in Mahindra Logistics.

Kedaara was founded at the end of 2011 by Manish Kejriwal, formerly India head for Temasek Holdings, Sunish Sharma, formerly managing director at General Atlantic, and Nishant Sharma, formerly of General Atlantic and McKinsey & Company.

The firm sealed a partnership with Clayton, Dubilier & Rice (CD&R) in March 2012 and launched the fund about two months later. The first close came in October 2012 and a final close of $540 million followed in November 2013.

 

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• Topics
• Consumer
• South Asia
• Expansion
• India
• Kedaara Capital
• manufacturing
• ChrysCapital Management
• Consumer
• Growth capital