Global buyout giants KKR and Apollo are reported to be in early stage talks to buy a stake in the poultry-based product arm of Godrej Agrovet, an Indian agribusiness that also has interests in animal feed, oil palm plantations and agrochemicals.
The Mumbai-based company is looking to raise about INR5bn ($93m) to INR6bn ($111m) by selling a 15 to 20 per cent stake, India’s Business Standard reported on Monday, citing unnamed sources.
The funds will be used for a few outbound acquisitions and capacity expansion, the report said.
The company is best known for brands such as Real Good Chicken and Yummiez brands, and is valued at about INR25bn ($463m), the report added.
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