Global, Indian FMCG companies in race for Capital Foods

Nestle, Kraft Heinz, Hindustan Unilever, Tata, ITC, Orkla and Nissin Foods are among the contenders for an estimated $1-$1.25 billion plus buyout of Capital Foods Pvt Ltd, the maker of condiments, food products and ingredients under the Chings Secret and Smith & Jones brands, said people with knowledge of the matter...

The three are Invus Group, a European family office and investment arm, with a 40% stake, US private equity group General Atlantic (35%) and Ajay Gupta (25%), founder chairman of Capital Foods and a former advertising boss turned food entrepreneur..

Nestle SA, the worlds biggest food group, is competing with the Tata Group, ITC, Hindustan Unilever Ltd, Japanese instant noodle multinational Nissin Foods, Norways Orkla and the Kraft Heinz Co, the worlds fifth-largest food and beverage company, in a keenly contested race that has picked up momentum in the last few weeks, said at least six people directly involved with the matter...

The Rs 7,000 crore noodle market is dominated by Nestles Maggi which currently controls about three-fourths of the market, followed by players such as Indo Nissins Top Ramen, Hindustan Unilevers Knorr, CG Foods-owned Wai Wai, Capital Foods Ching's and ITCs Yippie..

The same year, Ahmedabad-based Zydus Wellness, jointly with Cadila Healthcare, bought Heinz India, a subsidiary of Kraft Heinz for Rs 4,595 crore which values it at four times annual sales giving them ownership of Complan, one of Indias top-selling health drink brands along with the with the oldest prickly heat powder Nycil (sold since 1951), India's best-selling nutrition solution Glucon D and premium ghee brand Sampriti..

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