Sequoia Capital backed, Prataap Snacks Ltd to acquire 80% equity stake in Rajkot-based Avadh Snacks Private Ltd for Rs.148 crores

Prataap Snacks that sells chips under the brand name of “Yellow Diamond” was founded in 2009 in Indore.

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“We at Avadh, are delighted to have Prataap Snacks lead us on this exciting journey in the Indian packaged food industry” said Rajesh Savani, founder Avadh Snacks.
AHMEDABAD: Sequoia Capital backed, Prataap Snacks Pvt Ltd, a snack food start-up which got listed recently, had acquired a majority stake in Rajkot based Avadh Snacks Pvt Ltd. With this deal it marks the entry of Prataap Snacks into Gujarat’s snacks market.

Prataap Snacks that sells chips under the brand name of “Yellow Diamond” was founded in 2009 in Indore. Sequoia Capital pumped in a total Rs 265 crore in Prataap Snacks since it first investment in the company in 2011. Later another investor, Aditya Parekh-led private equity firm Faering Capital invested in it. After its recent listing, Sequoia continues holding a minority stake in the company.

As per the deal, Prataap Snacks has agreed to acquire 80% equity stake for a consideration of Rs.148 crores through a combination of primary & secondary investment. Intensive Fiscal Services Pvt Limited, a Mumbai based investment bank is the sole syndicator & advisor to the deal.


“Our acquisition of Avadh will help us accelerate our growth and deepen our presence in the key market of Gujarat, as the state is the largest salty snacks market in India and is one of the most important markets where Prataap Snacks would like to build a presence with a strong partner like Avadh” said Amit Kumat, MD & CEO, Prataap Snacks Ltd.

The product bouquet of Prataap and Avadh are complementary and will create a balanced portfolio with a mix of regional and national flavours & variants across categories. As per the company’s statement, the acquisition will also lead to a significant synergy in distribution across Gujarat and neighbouring markets.

“We at Avadh, are delighted to have Prataap Snacks lead us on this exciting journey in the Indian packaged food industry” said Rajesh Savani, founder Avadh Snacks.
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Avadh Snacks Pvt Ltd, promoted by Mr. Rajesh Savani, Mr. Dilip Lalani and Mr. Neel Jagani is engaged in the manufacturing and selling of branded packaged snacks under brand name “Avadh”. Started in 2010, Avadh has a well-diversified and strong product portfolio for namkeens like bhujia, chevda, fafda, gathiya, etc. and extruded pellets like wheels, cups, pasta, etc. with strong presence in the state of Gujarat and now expanding to Maharashtra and Rajasthan.
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