Advent to back Innovative Bites & Foods with $150M for minority stake
Advent International is committing $150 million for a minority position in Innovative Bites & Foods, a domestic frozen foods manufacturer. The deal extends the PE firm's run of bets on India's packaged food sector, signalling sustained appetite for branded, ready-to-eat categories.
What happened
Advent International is set to invest $150 million for a minority stake in Innovative Bites & Foods, an Indian frozen foods maker, marking the PE firm's latest
Key facts
- $150 million
Why this matters
A minority $150M check at Innovative Bites tightens comparable valuations for frozen foods M&A, so move early on bolt-on targets before Advent-backed consolidation lifts ask prices.
Also reported by
- Moneycontrol · Results — Same time