ChrysCapital invests Rs.250 crore in CavinKare

Diversified fast moving consumer goods (FMCG)company CavinKare Monday announced private equity investment of Rs.250 crore from Mauritius-based ChrysCapital.

Making the investment announcement the Rs.1,200 crore turnover CavinKare, in a statement issued here, said: "This investment will be used to strengthen and expand its existing brand portfolio ranging from shampoos,fairness cream, hair colours, deodorants, dairy, snacks, foods and beverages."

"The investment from ChrysCapital will give a strong financial boost to the company, given the rapid expansion and diversification undertaken in the last few years. Our objective is to rapidly grow the company's brand portfolio few notches upwards across different markets," C K Ranganathan, chairman and managing director, CavinKare was quoted as saying in the statement.

CavinKare did not give the break-up of the investment (equity capital,share premium) and the stake that ChrysCapital would hold.