Motilal Oswal Private Equity Advisors Pvt Ltd (MOPE) has announced that its India Business Excellence Fund II has invested Rs.110 crore for a “Minority stake in Dairy Classic Ice Pvt Ltd” (Dairy day).
The fund will be invested for the expansion of the distribution network and branding which will help the company to serve better and to achieve its multi goals to become one of the leading companies in that region while continually improving its expansion in other markets” said MN Jagannath and A Balaraju, directors of Dairy Classic.
Dairy day is the second dairy and eatery firm invested after Parag Milk by Motilal Oswal Private Equity in 2008.
Founded in 2003, Dairy Classic Pvt Ltd is one of the top five companies in south India specialised in manufacturing and selling Ice creams and frozen desserts. The Company has a strong presence in south India (Karnataka and Tamil Nadu) with more than 15.000 retailers in this region. Dairy Classic Pvt Ltd is operating under the name of Dairy Day.
Dairy Day will benefit with the experience of MOPE in managing certain firms across the sector which will bring a lot of value to the organization as they want to build an excellent firm.
MOPE is in the process of rising up to 300 million to invest in small and mild companies. Dairy Classic Pvt Ltd has centralised its manufacturing area near Bengaluru. “We believe that the company is well positioned to benefit from increasing acceptance of ice cream as dessert, brand awareness higher spending capacities and improving our refrigerators infrastructure” said Vishal Tulsyan, managing director and CEO, MOPE
The Brand is competing with some local and international brand such as Amul, Nestle, Mother Dairy, Vadilal, Kwality Walls, Baskin Robbins and others.
Motilal Oswal Private Equity Invests 110 crore in Dairy Classic Ice creams
