After much speculation, Dr. Oetker finally acquired Delhi based Fun Foods yesterday for Rs 110 crore. Spayne Lindsay TP acted as the financial advisor to the Oetker group.Dr. Oetker had received FIBP approval earlier this month.
Present MD of Dr. Oetker India Pvt. Ltd, Oliver Mirza will take over as the new Managing Director of Fun Foods India, while Bahls will continue to be a part of the senior management team. In an earlier interview to VC Circle, Rajiv Bahl had said that he wanted to remain associated to Fun Foods.
Fun Foods is a manufacturer of packaged food products such as mayonnaise, sandwich spreads. It was started by Rajiv Bahl and his wife, Vibha Bahl in 1983 and had recently completed 25 years of its existence. While Fun Foods has countrywide sales, its operates factories in Rajasthan and Uttarakhand.
Oetker Group is a privately owned industrial group, based in Germany with a substantial interest in the food sector. Spayne Lindsay TP was the financial advisor to Oetker on this deal.
The acquisition wil help Dr Oetker India in establishing a position in the Indian market.
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