New Delhi: Private equity firm Rabo Equity Advisors, a part of Dutch banking major Rabobank, on Tuesday said it has picked up 26% stake in Geepee Agri Private Ltd for an undisclosed amount.
The stake has been purchased through its India Agri Business Fund, Rabo Equity said in a statement.
Geepee Agri, which has plants at Kota in Rajasthan and Akola in Maharashtra for crushing oilseeds, is planning an expansion in the palm oil segment. Currently, the company distributes refined soyaoil under its brand “Parampara” in Rajasthan, Maharashtra and Chhattisgarh.
“Geepee Agri has witnessed rapid growth over the last few years and ... (indications are that) the growth momentum will remain sustained,” Rabo Equity Advisors chairman and managing director Rajesh Srivastava said in the statement, apparently underlining the rationale behind Rabo Equity’s interest in Geepee Agri.