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Maiyas Beverages and Foods raises Rs 200 cr from Peepul, Ascent Capital - 09-Jun-2016
Maiyas Beverages and Foods Pvt. Ltd has now garnered funds infusion of Rs 200 crore from private equity players Peepul Capital and Ascent Capital. This is the second tranche for funding for the company as the existing investor Ascent Capital, provided Rs 100 crore in 2014. PricewaterhouseCoopers acted as the advisor to Maiyas for the latest transaction. “The company’s key objective is to build a diverse range of products across snacks, sweets, instant mixes, spices and ready-to-eat and ready-to-cook categories, and go aggressively in market,” said Dr Sadananda Maiya, chairman, Maiyas Beverages and Foods. The food processing major’s broad-based ready-to-eat and ready-to-cook processed products span from rava idli mix to Rasam Xpress in cubes which have transformed today’s Indian kitchens. In addition its range of ready-to-serve range comprises rasmalai, bhelbar, fruit and nut bar, badam milk, gulab jamun and so on.