Kedaara Capital’s recent investment in Dairy Classic Ice Creams Private Limited (Dairy Day), a prominent ice cream brand headquartered in Bengaluru, marks a significant milestone in the company’s journey.
This investment aims not only to accelerate Dairy Day’s growth trajectory in India but also to facilitate a complete exit for previous investors, including Motilal Oswal Private Equity and angel investors.
Investment Objective and Strategy:
The primary objective of Kedaara Capital’s investment in Dairy Day is to fuel the brand’s expansion and solidify its position in India’s competitive ice cream market.
By collaborating closely with Dairy Day’s promoters and management team, Kedaara intends to leverage its expertise and experience to propel the company towards achieving its ambitious goals.
Statements from Dairy Day Leadership:
MN Jaganath, Managing Director and CEO, alongside A Balaraju, Director–Technical, express their enthusiasm about partnering with Kedaara Capital for Dairy Day’s next phase of growth.
They highlight the alignment of values and aspirations between Dairy Day and Kedaara, emphasizing their confidence in Kedaara’s ability to support their vision of making Dairy Day one of India’s most beloved ice cream brands.
Future Plans and Expansion Strategy:
Dairy Day envisions establishing world-class production facilities in multiple locations in the forthcoming years.
The company aims to capitalize on the rapidly growing demand for ice cream products across various regions in India, leveraging its established presence and reputation in states like Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and Maharashtra.
Gratitude to Previous Investors:
Dairy Day’s leadership extends their gratitude to Motilal Oswal Private Equity and other previous investors for their exceptional collaboration and support.
They acknowledge the invaluable contributions of these partners in shaping Dairy Day’s journey and setting a benchmark for true partnership in the business landscape.
Role of EY in the Transaction:
EY played a crucial role as the exclusive investment banker for the transaction, facilitating a seamless process and ensuring optimal outcomes for all stakeholders involved.
Background and Overview of Dairy Day
Founded in 2002 by MN Jaganath, A Balaraju, and their team, Dairy Day has emerged as a prominent player in the Indian ice cream market. With a widespread presence spanning across Karnataka,
Tamil Nadu, Andhra Pradesh, Telangana, and Maharashtra, Dairy Day serves a diverse range of consumers through both traditional retail channels and online platforms.
Product Portfolio and Market Position:
Dairy Day offers a diverse array of ice cream products in various flavors and formats, catering to the preferences of its wide customer base.
With an extensive product portfolio encompassing cups, candies, sticks, cones, tubs, and cakes, Dairy Day has successfully positioned itself as a market leader renowned for its commitment to quality and customer satisfaction.
Insights from Kedaara Capital:
Sunish Sharma, Founder and Managing Partner, and Anant Gupta, Managing Director, of Kedaara Capital emphasize the exponential growth potential of the ice cream segment within the food and beverage industry.
They commend Dairy Day’s unwavering dedication to quality and emphasize the brand’s strong resonance with consumers across its target markets.
About Kedaara Capital:
Kedaara Capital is a leading private equity firm in India, managing a diverse portfolio of businesses across various sectors, including consumer, financial services, pharma/healthcare, technology/business services, and industrial verticals.
With over $3.7 billion in assets under management, Kedaara Capital stands as a prominent player in India’s investment landscape, advising and investing in businesses with significant growth potential.
Conclusion:
Kedaara Capital’s investment in Dairy Day underscores the immense growth opportunities present in India’s ice cream market. With Dairy Day’s commitment to excellence and Kedaara’s strategic guidance and support,
the stage is set for Dairy Day to further solidify its position as a leading player in India’s thriving ice cream industry. This partnership not only signifies a significant milestone for Dairy Day but also exemplifies the potential for transformative growth through strategic investments in India’s vibrant consumer market.
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