MANAMA: Investcorp has led a $17 million investment in Wingreens Farms, one of India’s leading packaged food and beverage companies, with participation from Omidyar Network India, an investment firm focused on social impact.
The Bahrain-based alternative investment manager is an active investor in mid-market companies across consumption-linked sectors and in the real estate business in India.
In the private equity space, Investcorp targets opportunities across the consumer, healthcare, financial services and technology sectors.
Committed to women’s empowerment, Wingreens is focused on capturing changing consumer preferences towards healthier and “better for you” products, a segment which represents a $1 billion opportunity over the next five years.
Founded in 2011, Wingreens is a market leader in fresh dips and fruit juices (under the brand RAW Pressery), under the brand promise of ‘‘world-class, minimally processed products using high-quality ingredients that are sustainably sourced.”
Wingreens portfolio includes healthy snacks, sauces and spreads, spice mixes, specialty bakery, breakfast cereals, non-dairy milk, protein shakes and a wide assortment of organic products.
The company has an omni-channel distribution strategy with an offline retail footprint in more than 200 cities across India.
Wingreens has also launched a new direct-to-consumer website – wingreensworld.com – offering its multi-brand foods and beverages across the country.
Gaurav Sharma, partner and head of India Private Equity at Investcorp India, said: “Wingreens addresses a large market that represents significant potential and headroom for growth. Over the years, it has showcased a robust market standing and strong financial metrics. We look forward to working with the company and enabling them to scale further.”
Veda Corporate Advisors was the exclusive advisor to the transaction.
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