Capital Foods: The world’s largest food conglomerate Nestle SA is planning to buy Ching’s Secret owner Capital Foods Pvt. Nestle is included in the list of final bidders. Nestle may buy Ching’s noodle maker as it seeks to strengthen its hold on the growing market in India, a report said.
According to a Bloomberg report on Thursday, the Swiss The company is discussing the terms of a possible deal with Mumbai-based Capital Foods. The company is considering a deal of more than $ 1 billion to buy the company. If this deal is completed, Nestlé’s hold in India will become stronger.
What does Capital Foods make
The company which Nestle is considering buying Ching’s Secret brand of spicy noodles and fusion chutney in the Indian market. Apart from this, Smith & Jones also sells cooking paste and spice mix. Capital Foods’ popular product is Ching’s Noodles.
Many other companies also in the race
The report states that many other buyers Has also shown interest in buying Capital Foods and there is no confirmation that Nestle can buy this company. Apart from this, other companies can also buy Capital Foods.
Nestle came to India in 1961
The shares of Nestle India Ltd. has gained 10 percent in the last 12 months, giving it a market value of about $ 22.3 billion. The firm launched its first product in India in 1961 and now sells everything from yogurt to cereals in the country. Capital Foods’ investors include General Atlantic, which bought a stake in the company in 2018. The brand is endorsed by actor Ranveer Singh.
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