Capital Foods, a fast moving consumer goods (FMCG) company, is in talks to buy Pune-based processed foods company Chordia Food Products Ltd, which sells pickles, ketchups and instant mixes under the Pravin brand.
Kishore Biyani's Future Ventures and the celebrated chef of Khana Khazan Sanjeev Kapoor hold 33 per cent and 10 per cent stake, respectively, in Capital Foods. The rest is held by Ajay Gupta, the founder of the company that owns brands such as Ching's Secret, Smith & Jones, Mama Maria, Raji and Kaeng Thai.
Ajay Kapoor, CEO, Capital Foods said, “We are not looking at buying out Chordia Foods. We have partnered with them for the proposed food parks in Hosur and Pune.”
Future Group plans to achieve Rs 1,000 crore from the FMCG business in the next three years. The proposed acquisition and food parks will be a part of this strategy. Capital Foods will oversee Future Group's FMCG operations in the foods space in terms of production and distribution, a person familiar with the development said.