Aavishkaar Capital announced the completion of its 34th exit with the conclusion of the transaction in which Tata Consumers Products Limited (TCPL) acquired 100% of Kottaram Agro Foods Pvt. Ltd. Kottaram markets a range of healthy, tasty and convenient packaged food products with millets as their key ingredient under the brand name “Soulfull”. TCPL sees in Kottaram a strategic fit with its food and beverages portfolio both in terms of pipeline expansion as well as being margin accretive.
Aavishkaar Capital invested in Kottaram in 2018 with the intent to encourage the entrepreneurs to scale their vision so that more farmers could benefit from millet cultivation. Aavishkaar has focussed on supporting the entrepreneurs Prashant, Rasika and Amith in their business objectives, which has helped Kottaram deliver strong growth, financial and impact metrics.
“We are thankful to the support and backing throughout our journey from Aavishkaar both pre and post pandemic”, said Prashant Parameswaran, Founder & CEO, Kottaram. “The validation of Soulfull’s ethos of honesty and sustainability by India’s leading impact investor has been instrumental in helping us achieve our vision”, added Rasika Prashant, co-Founder & CMO, Kottaram.
Commenting on the exit, Janavi Papriwal, Director of Aavishkaar Capital and Board Member of Kottaram said “The acquisition of Kottaram by TCPL reflects the strength of the “Soulful” brand and is a demonstration of the power of impact thinking and its alignment with commercial returns. This is testimony to the outstanding efforts of the leadership team at Kottaram and we are privileged to have been a part of this journey.”