Sole Advisor to Eastern Condiments Private Limited in the Divestment of Minority Stake to McCormick & Company Inc.
McCormick & Company Inc has entered into a definitive agreement to acquire a 26% equity stake in Eastern Condiments Private Limited, a leading manufacturer and distributor of branded spices in India and the Middle East. The transaction is subject to regulatory approvals, and is expected to be completed in the next quarter. The partnership is expected to help propel Eastern into a leading national brand in the spices segment through on-going support from McCormick.
Avendus Capital was the exclusive financial advisor to the shareholders of Eastern Condiments Private Limited.
Deal Value
Undisclosed
Service
Sector
Digital, Technology & Consumer
Date
July 2010
About Eastern Condiments Private Limited | McCormick & Company |
Eastern Condiments Private Limited is a leader in spices, seasonings and specialty foods with distribution in India as well as selected international markets.
McCormick & Company, Incorporated is the global leader in the manufacture, marketing and distribution of spices, seasonings, specialty foods and flavors to the entire food industry - to foodservice and food processing businesses as well as to retail outlets.
Equity Capital Markets
USD 197 mn
Digital, Technology & Consumer
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