Goldman, Mitsui invest in India's Global Beverages & Foods

The business was founded by A. Mahendran, former managing director at Godrej Consumer Products.

According to LiveMint, GBF is looking to build a portfolio of consumer brands in juices, confectionaries and snacks, tapping into a long-term increase in consumer spending in the country. The company, which hopes to launch its brands over the next four months, is also said to be eyeing inorganic growth opportunities.

Despite the broader consumer growth story, the new brands are being introduced at a time when Indian households have cut back on discretionary spending because of high inflation and a tough macroeconomic environment.

"This is the right time to enter the market as there is a slowdown and large investments will help fuel the sector growth," said Mahendran.

J. Sagar Associates (JSA) advised Goldman Sachs in its investment while Mitsui and Mahendran were represented by Nishith Desai Associates and Trilegal, respectively.

This is not the only occasion where Mahendran has teamed up with private equity. Last month he partnered with India Value Fund to acquire pest control services company ISS Hicare from its Denmark-based parent.

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• Topics
• South Asia
• Early-stage
• Consumer
• Goldman Sachs
• Japan
• Consumer