Key Points
Investment bank Goldman Sachs is valuing the company, which saw $55m worth of sales last year, at between $500m and $800m.AgenciesCapital.
Mumbai | New Delhi: Nestle SA, the world's biggest food group, is competing with Tata Consumer Products and The Kraft Heinz Co to buy Capital Foods Pvt Ltd, the maker of condiments, food products and ingredients under the Ching's Secret and Smith & Jones brands, said people with knowledge of the matter...
Capital Foods' three main shareholders decided to put the company up for sale late last year..
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..
Close to a dozen global and local consumer food companies including Norway's Orkla, Hindustan Unilever, Nissin Foods and General Mills among others, were approached to buy the company..
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