July 10, 2023
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Bain Capital interested in Vadilal?
Bain Capital is eyeing a controlling stake in the combined entity of Vadilal Industries, Vadilal Enterprises and Vadilal brand, the sources said. Vadilal has received buyout interest from a private equity firm Bain Capital. According to the sources, the deal talks value the ice cream maker at over Rs 3,000 crore.
Arpwood Capital had earlier offered to buy a stake in Vadilal, sources had confirmed but the promoter dispute had delayed the sale in the past.
The private equity investor will be interested in merging the two listed companies and the Vadilal brand,
Vadilal Industries makes ice cream and frozen food, while Vadilal Enterprises sells and markets the product.
Shares of Vadilal Industries are trading 15 percent higher at Rs 3,196 on July 10. The stock hit a 52-week high intraday of Rs 3,220 following the stake sale reports. Vadilal Enterprises also saw a 4.4 percent gain at Rs 4,040.
Vadilal Group, Bain Capital and Arpwood did not offer a comment on the deal development.
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