Blackstone Invests In SH Kelkar
Blackstone has invested R243 Cr in SH Kelkar & Company, manufacturer of specialty fragrance and flavour ingredients for 33% stake in the company.
The Company aims to consolidate its position in India as well as expand its presence in the global markets.
As a part of the deal, Blackstone will nominate two representatives to the SHK board while the Vaze family will have three representations.
Keynote Corporate Services was the advisor for the transaction.
In 2010, Vaze family bought co-founder Kelkar family's stake in the company. Vaze Family will continue to hold 65% stake while another 2% will be with a few minority investors.
SH Kelkar manufactures fragrances and flavours which have applications in varied sectors like fast-moving consumer goods, pharmaceutical products and dairy products.
The company has three manufacturing units in India (two fragrance units in Maharashtra, and one bulk aroma chemicals unit in Vapi, Gujarat) and a manufacturing unit in Netherlands. The Company has sales offices across India, as well as recently opened offices in Singapore, Indonesia and Thailand, for growing sales to South East Asia.
SH Kelkar also has four R&D / creative centres in Mumbai, Bangalore, Netherlands and Indonesia.
Recently, Plant-based ingredients supplier - Naturex has acquired Mumbai based natural colors producer Valentine Agro Limited, which specializes in natural colours (annatto turmeric, etc.) and fruit and vegetable powders.
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|www.blackstone.com||Mathew CyriacRichard SaldanhaAMIT JAIN|
|S H Kelkar And Company Private Limited||Kelkar Investment Company Private Limited||Devkaran Mansion, 36, Mangaldas Road||http://www.kelkargroup.com|
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