DSG Consumer Partners backs Tierra Food India
Singapore-based DSG Consumer Partners has invested an undisclosed sum for a minority stake in Tierra Food India.
The Kerala-based company focuses on "nutritionally superior and healthier food products" and has been manufacturing and marketing its cassava and banana chips under the Kappo and Banano brands respectively since 2012. Tierra had INR60 million ($984,000) in sales in the 2012-2013 financial year.
The company expanded distribution in select cities in the states of Tamil Nadu, Karnataka and Andaman in May, and will utilize the funds to further its sales network and for marketing and development.
DSG was founded this year to invest in consumer businesses and has also backed Singaporean online grocer RedMart. Its founder and managing director, Deepak I. Shahdadpuri, has worked with Indian food and beverage brands such as Sula Wines, Baker's Circle, specialty cheese maker Exito Gourmet and Impresario Hospitality.
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