A fund managed by Morgan Stanley PE Asia has invested INR 152 Cr in Manna Foods
A fund managed by Morgan Stanley Private Equity Asia has invested INR 152 Cr in Southern Health Foods, makers of "Manna Foods" brand of natural health food products.
Manna
Foods' flagship
product,
Manna
Health
Mix
is
a
ready
to
cook
improvisation
of
'sathumaavu',
a
traditional
homemade
multi-grain
mixture
of
cereals,
millets
and
pulses
that
is
cooked
in
hot
milk.
Apart
from
its
flagship
product,
Manna
Foods
has
a
strong
suite
of
health
food
products
including
ready
to
cook
millet
based
infant
food,
millet
grains,
soya
nuggets,
dried
fruits,
purees,
pastes
etc.
Manna
is
a
well-known
household
brand
in
South
India,
trusted
by
a
huge
number
of
households.
"Led
by
Manna
Health
Mix,
Manna
Foods
has
created
a
unique
health
food
platform
with
an
array
of
natural,
preservative-free
and
ethnic
food
products
range.
At
a
time
when
people
are
quitting
synthetic
preparations
and
switching
over
to
organic
and
traditional
food,
Manna
Foods
is
excited
about
the
partnership
with
Morgan
Stanley
to
write
a
true
success
story
in
Health
Foods
space
in
India",
said
I.S.A.K
Nazar,
Company
promoter.
Arjun Saigal, Co-Head of Morgan Stanley Private Equity Asia in India, said, "We are excited to back a fast growing brand such as Manna which has consistently delivered on its customer promise of natural, healthy and high quality products. At a time when India's eating habits and lifestyles are creating health challenges, we believe that Manna's natural foods are well positioned to offer appealing choices to consumers. Additionally, foods based on home-grown grains such as millets are regaining popularity, offering 'superfood'-type nutritional content at an affordable cost. We look forward to driving Manna's next phase of growth."
The proceeds will be used to fund Company's expansion in South India as well as provide part exit to existing investors. The Company had earlier raised INR 30 Cr from early growth investors led by Fulcrum in 2015.
"Having partnered with Manna in 2015, Fulcrum has been very happy working with the Manna team under the able leadership of Mr. Nazar. We have always felt that Manna has a strong brand and the same has reflected in the strong sales growth posted by the Company over the past 2 years. Joining hands with Morgan Stanley will further help strengthen Company's positioning in the FMCG space", said Ethan Khatri, Partner at Fulcrum.
MAPE Advisory Group acted as the sole financial advisor for the transaction.
About Southern Health Foods
Southern Health Foods is the maker of "Manna Foods" brand of natural health food products. Founded in 2000 and headquartered in Chennai, Manna manufactures and sells ethnic millet based breakfast cereals, instant drink mixes, infant foods, dried fruits and other everyday food products that are 100% natural, have high nutritional value and are gluten free/diabetic friendly. Manna's health foods are based on traditional household recipes and are made from natural nutrient rich ingredients that boost mental and physical development, increase immunity and improve digestion. Today, Manna has a marketing network of 40+ super-stockists and over 500 distributors that cater to 67,250+ retail outlets across 350 towns in India.
About Morgan Stanley Private Equity Asia
Morgan Stanley Private Equity Asia is one of the leading private equity investors in Asia-Pacific, having invested in the region for over 20 years. Morgan Stanley Private Equity Asia invests primarily in highly structured minority investments and control buyouts in growth-oriented companies. The experienced investment team is led by senior professionals with extensive industry relationships, in-depth market knowledge and the ability to apply international investment principles within each local context. Morgan Stanley Private Equity Asia has offices in Hong Kong, Beijing, Shanghai, Seoul, Tokyo, Mumbai and New York, and leverages the brand and unparalleled global network of Morgan Stanley.
About Fulcrum
Fulcrum is a private equity investor specializing in Indian Pharmaceuticals and Healthcare opportunities. The team comprises of a seasoned investment & operational professionals with hands on domain expertise. Founded in 2000, by the promoters of erstwhile pharmaceutical company - American Remedies, Fulcrum has built a strong track record for adding operational value to portfolio companies and generating superior returns.
Contact
Details:
Ms.
Jayashree
Southern
Health
Foods
Private
Limited
129,
Z
BLOCK
(PLOT
#
1160),
6th
AVENUE,
ANNA
NAGAR
CHENNAI
-
40
P:
044-
2628
3991
/
2628
6620;
Mobile:
9840283164
website:
www.mannafoods.in