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: Southern Health Foods, makers of health food products under popular brand 'Manna Foods' today said a fund managed by Morgan Stanley Private Equity Asia has invested Rs 152 crore for its expansion plans. "We are excited to back a fast growing brand such as Manna which has consistently delivered on its customer promise of natural, healthy and high quality products," Morgan Stanley Private Equity Asia, Co-Head, Arjun Saigal said in a statement. The proceeds will be used to fund the company's expansion in South India as well as to provide part exit to existing investors. MAPE Advisory Group has acted as the sole financial advisor for the transaction. Earlier in 2015, the company had raised Rs 30 crore from investors led by Fulcrum, the statement said. "Manna Foods is excited about the partnership with Morgan Stanley to write a true success story in the health foods space in India," the company's promoter I S A K Nazar said. Manna manufactures and retails ethnic millet-based breakfast cereals, instant drink mixes, infant foods, dry fruits among many others. The company has over 500 distributors, who cater to over 67,250 retail outlets across the country.
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