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Kedaara Capital Acquires Majority Stake in Dairy Day, a Leading Ice Cream Maker

by Alice

In a strategic move, Kedaara Capital has secured the majority stake in Dairy Classic Ice Creams Private Ltd, renowned for its beloved brand Dairy Day, in a transaction of undisclosed value. This investment marks a significant milestone, facilitating a complete exit for Motilal Oswal Private Equity and various angel investors.

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Headquartered in Bengaluru, Dairy Day boasts a robust market presence across key states including Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and Maharashtra, with its products available at over 50,000 retailers.

The company is poised for expansion, enhancing its daily production capacity from the current two lakh litres to an impressive 3.5 lakh litres. Moreover, Dairy Day has maintained a remarkable revenue growth trajectory, achieving a compounded annual growth rate (CAGR) of 30% over the past decade.

Kedaara Capital has articulated its commitment to collaborate closely with Dairy Day’s promoters, M.N. Jaganath and A. Balaraju, as well as its proficient management team, to unlock the next phase of growth for the company.

Sunish Sharma, Founder and Managing Partner, and Anant Gupta, Managing Director of Kedaara Capital, expressed their enthusiasm, stating, “Ice cream stands out as one of the fastest-growing segments within the food & beverage industry. Dairy Day’s steadfast dedication to quality and commitment to delivering excellence have deeply resonated with consumers across its target markets, positioning the brand as a market leader.”

In a joint statement, N. Jaganath, Managing Director and CEO, and A. Balaraju, Director – Technical, conveyed their excitement about the partnership with Kedaara, emphasizing the alignment of values and shared vision. They are confident that Kedaara’s extensive expertise and profound understanding of retail and consumer dynamics will be instrumental in accelerating Dairy Day’s growth trajectory.

EY played a pivotal role as the exclusive investment banker in facilitating this transaction, underscoring the significance of the deal in the evolving landscape of the food & beverage industry.

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