PEs add spice firms to shelf, invest Rs 5,000 cr to expand biz, enter mkt

Market is expected to touch Rs 50K-crore mark by 2025

Private equity investors and large domestic food companies have splurged close to Rs 5,000 crore to pick up stakes in, or acquire, branded spice companies, either to enter the market or expand their market share.

These include A91 Partners (25 per cent in Pushp Spices for Rs 126 crore in a primary fund raise), Investcorp (a minority stake in Intergrow Kitchen), Indian food companies such as ITC (100 per cent in Sunrise for Rs 2,100 crore), and a Norwegian conglomerate which owns MTR Foods (a majority stake in Eastern Condiments valued at Rs 2,000 crore).

On Wednesday, Dabur joined the