The investment will facilitate a complete exit for Motilal Oswal Private Equity and other Angel Investors involved
Kedaara Capital is to invest in Dairy Classic Ice Creams (Dairy Day), an ice cream brand in South India. The investment will facilitate a complete exit for Motilal Oswal Private Equity and other Angel Investors involved, as per the press statement.
M.N. Jaganath, Managing Director and CEO stated, “Given the convergence of values and aspirations, we are confident Kedaara will help us deliver on our vision to make Dairy Day one of India’s most loved ice-cream brands. Their wealth of expertise and in-depth retail and consumer experience will be invaluable as we expedite our growth. We are confident of setting up world-class production facilities in various locations in the coming years.”
Dairy Day, headquartered in Bengaluru, has built a robust presence across Karnataka, Tamil Nadu, Andhra Pradesh, Telangana and Maharashtra boasting a network of more than 50,000 retailers. The company is set to increase its daily production capacity by 1.5 lakh litres, augmenting its existing capacity of two lakh litres per day. Additionally, it has achieved a commendable revenue growth of 30 per cent compounded annual growth rate (CAGR) over the past decade, it release added.
Sunish Sharma, Founder and Managing Partner of Kedaara Capital said, “Ice Cream is one of the fastest growing categories within the entire food & beverage segment. We are excited to partner with M.N. Jaganath, A. Balaraju and the rest of the team to help them unlock Dairy Day’s full potential, and further strengthen its leadership position.”
Kedaara oversees a portfolio of investments totalling more than $3.7 billion, spanning multiple sectors such as consumer goods, financial services, pharmaceuticals/healthcare, technology/business services and industrials.
