Uday KotakMumbai: USK Capital, the family office of billionaire banker Uday Kotak, on Tuesday acquired a US-based snacking brand, Go Raw.
USK Capital has made the bet through the overseas direct investment route, which is its maiden foreign investment, according to a company statement.
The company, however, did not disclose the financial details of the transaction.
It acquired a majority interest in Freeland Foods LLC, the owner of the Go Raw brand, through one of the family office’s operating entities, the statement said.
Juggernaut Capital Partners, a middle-market private equity firm, and other early-stage investors sold their stakes, it added.
“The desire for healthy eating is a growing global trend, and the US consumer is embracing the same.
“Go Raw has a successful track record of robust growth and a growing retail footprint in the US,” the family office’s chief investment officer, Venkat Subramanian, said.
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