IVFA invests Rs 240 cr in VKL Seasoning

With the investment, Haresh Chawla and Vikram Nirula, partners at IVFA have joined VKL's board

VKL Seasoning (VKL), a leading player in the spice industry, has received a funding of up to Rs 240 crore ($40 million) from India Value Fund Advisors (IVFA). With this investment, Haresh Chawla and Vikram Nirula, partners at IVFA have joined VKL's board of directors.

VKL commenced operations in 1935 as whole spice dealer and later expanded into the private label and food ingredients businesses. VKL Seasoning manufactures seasonings and flavours in the spice industry.

It has operations primarily in India and partly in West Asia and Africa, with a presence in the Quick Service Restaurants segment.

Ajay Mariwala, managing director, VKL said, "This funding will help us grow our domestic capacities and expand business development efforts in West Asia and Africa."