Private-equity firm Artal Group has acquired a stake in Indian food maker Capital Foods.
The deal, for an undisclosed sum, sees Artal take a “significant minority” stake in the company, a representative for the private-equity firm confirmed. However, the Luxembourg-based investment group declined to comment on its strategic plans for Capital.
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The Indian food manufacturer, which is co-owned by founder and chairman Ajay Gupta, operates three manufacturing sites in the country. It produces branded and private-label foods under the Ching’s Secret Chinese food brand and Smith & Jones, a brand that brings western-style foods to India.
