- Singapore-based Private Equity fund DSG Consumer Partners, Danish Agri-business Fund IFU, and UK-based Pedoria Group will also exit from Saraf Foods
- Saraf Foods Limited has been proven to be the most ethical and quality supplier. Today they are ingredient specialists and leading the market globally with a reach in more than 15 countries.
NE BUSINESS BUREAU
VADODARA, NOV 2
Mumbai-based Roha Dyechem, one of the largest players in the food colour and ingredients industry, has acquired Saraf Foods Limited, a Vadodara-based freeze-drying specialist food processing company having a significant presence in global markets like the US, Europe, and Latin America, for an undisclosed amount.
Roha Dyechem’s 100% acquisition of Saraf Foods marks the exit of first-generation technocrat entrepreneur Suresh Saraf and his family, and the company’s existing financial investors. Danish investment fund IFU, early stage focussed venture capital fund DSG Consumer Partners and UK-based Pedoria Group are the early backers of the Vadodara-based firm.
Saraf Foods started production in 1993 with a funding of Rs 1.25 crore from Gujarat Venture Finance Ltd (GVFL). GVFL exited the company in 2005.
Having started as a Freeze Drying company, Saraf Foods has done backward integration into Individual Quick Freezing (IQF), diversified into Air Drying and also launched its own brand of vacuum freeze-dried snacks(HALO).
“We did something different when we forayed into the uncharted territory of freeze drying by establishing Saraf Foods in 1993. Over three decades, after making the company very successful, we started feeling that Saraf Foods was not realizing the kind of growth it is capable of. Hence, we decided to sell the company to a larger business house which is capable of taking this business to its higher potential. We believe Roha Dyechem is well-positioned to take Saraf Foods to the next level of growth and is the perfect buyer for the company. I am thankful to all stakeholders viz customers, employees, investors, banker, vendors & suppliers for their unwavering faith in us over the years,” said Suresh Saraf, Chairman & Managing Director, Saraf Foods.
Mahesh Tibrewala, Managing Director, Roha Dyechem, said, “With its exclusive focus on freeze drying for nearly three decades, Saraf Foods is a strategic acquisition for us and will help us further expand our product portfolio of dehydrated vegetables and fruits which includes MVD and Air Dried technology with manufacturing in New Foods, Italy. With this acquisition, we now have production in India which enables us to expand our customer reach. We look forward to working with the team at Saraf Foods to grow the company and help it realize its full potential.”
MGB Advisors acted as an advisor to the transaction. JSA and Parinam Law acted as legal advisors to sellers and purchasers respectively.
Mumbai-headquartered Roha Dyechem is serving major names in the FMCG, pharma, food & beverage, and industrial colours industries. With a presence in 22 countries, Roha Dyechem is truly a multinational giant.
Saraf Foods Limited has been proven to be the most ethical and quality supplier. Today they are ingredient specialists and leading the market globally with a reach in more than 15 countries.
