Mo Alternate Investment Advisors (MO Alts), the alternative investment arm of Motilal Oswal Financial Services, is investing Rs 330 crore to acquire a 25% stake in Lal Sweets, a Bengaluru-based maker of packaged sweets and other food items.
The company sells a variety of products including Indian sweets, bakery items (cookies, cake toast, baklava), and select savoury snacks.
Lal Sweets follows an omni-channel strategy, retailing its products across 4,000 modern trade outlets, 7,000 general trade outlets, quick-commerce platforms, e-commerce platforms, and its own website, according to the company. It also operates a travel-focused retail business with 40 outlets at various airports in the country.
Lal Sweets was advised by Veda Corporate Advisors. “Our focus is on providing authentic and consistent taste to consumers,” said Prateek Athwani, promoter of Lal Sweets.
“India’s packaged sweets space is witnessing a rapid double-digit growth, driven by increased focus on convenience and hygiene, uptick in gifting use-cases, shift from unbranded to branded plays, and pull of quality products at attractive pricing,” said Vijay Dhanuka, managing director and head of consumer sector at MO Alts.
Source: Economic Times