Future Ventures is in talks to buy Chordia Foods Products Ltd through its FMCG company- Capital Foods Ltd to achieve a sales target of Rs 1000cr in the next 3 years.

With Chordia's market cap of Rs 15cr, the deal size could be between Rs 25-30cr.

Future Group is already in talks with Capital Foods and Chordia Foods to set up two food parks in Pune and Hosur for making processed foods.

Chordia Foods founded as a cottage industry by Hukmichand Chordia in 1960. The company, which is now listed on BSE, manufactures food products like pickles and grounded spices, marketed under the brand name'Pravin'. It operates a food park at Shirwal, 55 km from Pune.

Capital foods manufactures and sells food products such as noodles, instant mixes etc under the brands Ching's Secret, Smith & Jones, Mama Maria, Raji and Kaeng Thai.

Future Ventures holds 33% in Capital Foods which was acquired in 2006 through its PE fund Indivision India Partners for around Rs 25-30cr. Khana Khazana chef Sanjeev Kapoor holds 10% and the rest is held by Ajay Gupta who is the promoter of the company.

Future Group already owns Tasty Treat, Premium Harvest and Fresh & Pure brands in the foods space.

Last week, Capital foods announced its plan to buy all brands of Chef Sanjeev Kapoor to introduce a new line of products in the ready-to-eat segment, frozen foods, jams, pickles and papads. S anjeev Kapoor has also joined the BOD of Capital Foods.

Transaction Reference: Financial Express

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