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CX Partners To Buy $100 Million Stake in India’s Cremica

CX Partners To Buy $100 Million Stake in India’s Cremica

CX Partners, an investor group, is set to acquire a 48% stake in India based  Mrs. Bector’s Food Specialties, Ltd., also known by its brand name Cremica, for $100 million. The consortium, which includes some international limited partners, will buy out the shares held by Motilal Oswal Private Equity Advisors Private Limited and one of the promoter family siblings.

cremica logo

With 12 lines of products including breads, biscuits, sauces, gravies, ice creams and condiments, Cremica generated a turnover of over $100 millionduring FY 2014-15. It is a manufacturer for Hindustan Unilever, and supplies private-label products to retailers such as Big Bazaar and Spencer’s and to food service chains McDonald’s and Pizza Hut. It plans to add products including jams, ready-to-eat food and snacks to its portfolio, reports just-food.

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