Parsons Nutritionals, a prominent FMCG contract manufacturer, has successfully raised Rs 700 crore in its inaugural private equity funding round.
This milestone investment comes from Lighthouse Funds, marking the third investment from its recent venture, Fund IV.
Key Players and Contributors:
Alongside Lighthouse Funds, notable participants in this funding round include co-investors of Lighthouse, the International Finance Corporation (IFC), Evolvence India, HDFC AMC’s Fund of Funds,
and various distinguished family offices. The RainMaker Group (TRMG) played a crucial role as the exclusive financial advisor for this significant transaction.
Utilization of Funds:
Parsons Nutritionals intends to deploy the raised capital to enhance its manufacturing capabilities across both established and emerging product segments.
This strategic move aligns with the company’s commitment to meeting evolving market demands and sustaining growth momentum.
Stakeholder Insights:
SS Mann, Chairman of Parsons Nutritionals, expressed enthusiasm about the partnership with Lighthouse, emphasizing their shared values and long-term growth vision.
This collaboration signifies a pivotal moment for Parsons Nutritionals as they embark on their next phase of expansion.
Company Profile:
Established in 2002, Parsons Nutritionals specializes in the production of a diverse range of packaged food and beverage items, including ready-to-drink mixes, biscuits, chocolates, confectionery,
and malted beverages. The company has further diversified its offerings to encompass personal care products like shampoos and soaps, reflecting its adaptability and market responsiveness.
Investor Perspective:
Sachin Bhartiya, Co-Founder and Partner of Lighthouse Funds, highlighted Parsons Nutritionals’ track record of manufacturing excellence
and its strategic positioning to capitalize on increasing consumption trends and outsourcing dynamics. This investment underscores Lighthouse Funds’ commitment to supporting consumer-centric businesses poised for sustained growth.
Lighthouse Funds:
As a mid-market private equity firm, Lighthouse has established a strong presence in the consumer and healthcare sectors, backing over thirty companies since its inception in 2007.
Noteworthy investments include Unibic, Bikaji and Wow! Momo, Kama Ayurveda and Nykaa, Duroflex Mattress, and Fabindia, among others.
Conclusion:
The partnership between Parsons Nutritionals and Lighthouse Funds marks a significant milestone in the FMCG landscape, reflecting a shared commitment to innovation, growth,
and market leadership. With strategic investments and a steadfast focus on operational excellence, Parsons Nutritionals is poised to unlock new avenues of success in the dynamic consumer goods industry.
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