Home / Companies / News /  Goldman Sachs, Mitsui to invest `315 crore in Global Beverages and Foods

Mumbai: Goldman Sachs, Mitsui Global Investment (MGI) and some others will invest Rs315 crore to buy stakes in Global Beverages and Foods Pvt. Ltd, a company founded by entrepreneur A. Mahendran.

Mahendran had resigned as managing director of Godrej Consumer Products Ltd in July to start his own venture.

GBFPL is looking to build a portfolio of consumer brands in juices, confectionaries and snacks as consumption spending in India rises, said Mahendran. He declined to disclose the shareholding pattern in the new entity because of confidentiality agreements with investors.

“The snacks and non-carbonated drinks space has high growth potential as they are under-penetrated," said Gaurav Gupta, senior director at Deloitte Touche Tohmatsu India Pvt. Ltd.

Known for building consumer brands, including Good Knight and Hit, the 58-year-old Mahendran joined Godrej Consumer after it acquired Transelektra Domestic Products Ltd in 1994.

“We will be launching our brands in the next 3-4 months and are also looking at inorganic growth opportunities," said Mahendran.

Global Beverages plans to introduce new brands at a time when consumers have cut back on discretionary spending because of high inflation and the overall tough macro-economic environment.

“This is the right time to enter the market as there is a slowdown and large investments will help fuel the sector growth," said Mahendran.

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