Rabo Equity invests in Cremica, acquires minority stake

Cremica Food Industries, one of the leading FMCG conglomerate has raised USD 15 million from Rabo Equity Advisors, Investment Advisors for India Agri Business Fund II (the “Fund”)

With this funding, Rabo has also acquired a minority stake in Cremica.

“Cremica is excited to have Rabo Equity on board as an investor. Rabo’s deep sector knowledge and experience in the food space will help Cremica in a long way towards fulfilling its growth plans,” shared Akshay Bector, Chairman & Managing Director, Cremica Food Industries Limited.

Cremica is a fast growing sauces, condiments, and snacks company managed by Bector whose product range includes chips, sauces, sandwich mayonnaise, salad dressings, and syrups.

Cremica is looking to achievesales of INR 10,000 million by 2020 and expand its distribution network to 120,000 outlets in three years from 40,000 at present, thereby expanding its presence through the country.

The company is also looking to expand its manufacturing capacity at its existing complex at Phillaur and also plans to set up a food park and manufacturing plant in Himachal Pradesh.

“Rabo Equity is delighted to invest in Cremica and believes that under the leadership of Akshay Bector, Cremica shall become a strong household brand when it comes to sauces, condiments, and snacks,” added Rajesh Srivastava, Chairman & Managing Director, Rabo Equity Advisors.

Rabo Equity Advisors managed by Srivastava currently advises two funds in India, IABF – II and IABF– I. India Agri Business Fund I– a $120 million fund which is fully invested in companies like Prabhat Dairy, NCMSL, LT Foods, Daawat Foods, Vacmet, Global Green etc. and the recently raised – IABF II.The Fund has a long-term “Knowledge Sharing Agreement” with Rabobank.