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| Capital Foods to buy all Sanjeev Kapoor brands |
| Pravda Godbole / Pune Feb 12, 2010, 00:14 IST |
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Capital Foods, a fast moving consumer goods (FMCG) company, is set to acquire all brands of chef Sanjeev Kapoor to introduce a new line of products in the ready-to-eat segment, frozen foods, jams, pickles and papads. Kapoor will also join the board of directors of Capital Foods, according to a source.
Ajaay Gupta, managing director of Capital Foods, confirmed the development and said that all ‘Khana Khazana’ brands by celebrity chef Sanjeev Kapoor were going to be a part of Capital Foods. “Sanjeev as a valuable expert in the culinary industry will bring in his knowhow,” he said.
He said they intended to grow Capital Foods into an Rs 2,000-crore FMCG company in the next three-four years. “We intend to capture a 15 per cent marketshare in all categories.”
Capital Foods is owned by Future Ventures and other investors. Future Ventures, the private equity arm of Kishore Biyani, holds 33 per cent of Capital Foods. Sanjeev Kapoor owns 10 per cent, while the rest is held by Ajay Gupta, the founder of the company. Capital Foods owns brands such as Ching’s Secret, Smith & Jones, Mama Maria, Raji and Kaeng Thai.
Kishore Biyani, managing director of Future Group, said the new venture is looking at entering new spaces in the integrated food segment.
Capital Foods is set to leverage the distribution muscle that it has from Ching’s and Smith and Jones brands, and will take the new line to 400,000 kirana stores in the country. Eventually, it hopes to foray into British and American markets.
Sanjeev Kapoor, in collaboration with Impulse Marketing, plans to launch a culinary cum wellness magazine, called SK, in English by mid-March 2010. Currently, the publication, priced at Rs 100, is launched in English through a direct-to-home subscription.
“Focused on food and eating and living well, the magazine will have content related to recipes, cook yourself ones, travel destinations, beverages, world cuisine and the like,” Sanjeev Kapoor told Business Standard.
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