Private equity firm Advent International is buying Indian snacks maker DFM Foods Ltd (manufacturer of Crax branded snacks) in a deal that will see existing investor WestBridge Capital exiting the company. Advent has agreed to acquire almost 68% of DFM Foods from promoters and WestBridge for Rs 851.67 crore ($118.8 million) and has made an open offer to buy up to 26 per cent from the company's public shareholders, the Indian company said in a stock-exchange filing.
Advent is making the open offer at Rs 249.50 per share. That's 7.66% discount to the company's closing ...
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