Avendus Capital Advises Kancor Ingredients on Its Strategic Partnership With v. Mane Fils.

Kancor Ingredients Ltd. (“Kancor”), a leading producer of spice and menthol extract products and ingredients in India promoted by the Mariwala family, has formed a joint venture and sold a majority stake to France-based V. Mane Fils, one of the world’s leading flavours and fragrance companies. This strategic partnership between the Mariwala and Mane families will provide Kancor with a superior reach into technology and markets, while increasing the quality and reliability of supply for V. Mane Fils, and creating a unique high-technology hub for high-quality food & beverage ingredients globally.

The business will be managed by the Kancor management team in India, consistently with the current organization structure. The terms of the agreement are not disclosed.

Avendus Capital was the sole financial advisor to Kancor for this transaction.