Actis invests US$65m in India’s Nilgiri’s group
Actis, a leading private equity investor in emerging markets, has invested US$65m in the Nilgiri’s group.
The Nilgiri’s group has been in operation for the last 100 years and is one of the best known food brands in South India. Its products include dairy and dairy products, bakery, chocolates and variety of other local foods and snacks. All of its products are sold under the brand “Nilgiri’s 1905”. It operates on a franchise model and its franchise network has a strong foothold in South India.
The funding provided by Actis will be used to strengthen the group’s manufacturing operations in dairy, bakery and food and to assist in the expansion of its franchise network in South India.
Announcing the investment, Donald Peck, Managing Partner of Actis in South Asia said, "Actis is privileged to partner with the Nilgiri's group to help develop and grow its excellent brand in a number of directions. Actis's value add is in providing strategic direction to the group, bringing in new management, as well as best-of-breed industry practices."
Raja Chellayan, a member of the Nilgiris family and the new Chairman of the company commented, “In Actis we have found a partner which understands the food business, appreciates the virtues of a heritage brand such as Nilgiri’s. Above all, Actis is a high quality global investor which will contribute to the growth of Nilgiri’s through active board participation, its ability to deepen management and by helping to expand our South Indian footprint.”