ChrysCapital is acquiring Theobroma Foods, while Fractal Analytics has raised about Rs 1,461 crore from a host of investors.
ChrysCap to acquire Theobroma
Homegrown PE giant ChrysCapital is acquiring Theobroma Foods, a pan-India bakery chain, for Rs 2,410 crore, per an ET report.
An agreement is understood to have been signed between the parties, the report added, stating ChrysCapital is acquiring about 90% stake from the promoters and existing investor of the Mumbai-headquartered company.
ICICI Venture invested in Theobroma in 2017 and currently holds about 42% in it. The firm is exiting in the transaction. The promoters, on the other side, will retain about a 10% stake, the ET report stated, quoting sources.
Talks are understood to have been going on for a while, and there were other investors in the fray earlier. These include names such as Bain Capital, and Carlyle, among others.
The deal is likely to be at a lower valuation than the original amount of Rs 3,000 crore, stated the ET report.
Established in 2004, Theobroma’s offerings include brownies, cakes, desserts, chocolates, breads, and savouries.
IPO-bound Fractal raises $170m
Fractal Analytics, a global provider of artificial intelligence and analytics solutions headquartered in Mumbai, has raised $170 million (about Rs 1,461 crore) at a valuation of about $2.44 billion (Rs 20,978 crore), per media reports.
The funding came after its old investor Apax Partners sold its 6% stake in the company.
As many as 22 investors are said to have joined the round, which include names such as Trust Investment Advisors, White Oak Capital, Gaja Capital, and Neo Asset Management.
Fractal Analytics is now planning to hit the Indian bourse to rake in about $400-500 million, which if goes through can push up the company’s valuation to about $3 billion. Morgan Stanley, Kotak Securities, and Axis Securities are helping the company with its proposed IPO, which is also set to pave the exit of some of its existing investors.
