iD Fresh to Bag ₹1,300Cr from Apax Partners for Quarter Stake With the deal announcement pending, Apax has beaten firms like Carlyle, Kedaara, Permira, ChrysCap, Multiples, and Verlinvest for the deal, according to a report by the Economic Times, citing people aware of the matter.
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UK-based private equity (PE) firm Apax Partners is gearing up to acquire a quarter stake in iD Fresh Food in an INR 1,300 crore deal, taking the ready-to-cook food maker's valuation close to INR 4,500 crore.
With the deal announcement pending, Apax has beaten firms like Carlyle, Kedaara, Permira, ChrysCap, Multiples, and Verlinvest for the deal, according to a report by the Economic Times, citing people aware of the matter.
According to the report, one of the people said that the deal terms have already been finalised at the INR 4,500 crore valuation, making it one of the first pure-play consumer investments for Apax.
iD Fresh was founded by PC Musthafa and four of his family members in 2005, and has been backed by firms such as Premji Invest and TPG NewQuest.
Apax's India business has grown to USD 3.6 billion from 13 transactions in India since 2007, and has secured USD 5.2 billion with eight full exits and one partial exit. Its current portfolio includes greytHR, Azentio Software, Infogain, GlobalLogic, Zensar, IBS Software, Fractal Analytics, Healthium, and Apollo Hospitals. The firm currently has commitments close to USD 80 billion globally.
