Oetker Group, one of the largest family-owned firms in Germany, is reportedly acquiring Delhi based Fun Foods and VRB Foods, makers of toppings and mayonnaise, for Rs 110 crore.
However, when VCCircle contacted Rajiv Bahl, chairperson, Fun Foods and VRB Foods, he said, "We are in talks with a lot of people for this and Oetker is one of them. Oetker has got a FIPB approval but nothing has yet been finalised, " said Bahl.
Bahl also added that he wants to be "associated with the company" and would not want a complete sell-out. Bahl completely opposed any kind of private equity funding and added that he is looking for people "from the food industry, who understand this business to come and join hands" with him.
Fun Foods was started by Rajiv Bahl and his wife, Vibha Bahl in 1983, their first ever product being flavoured and food yoghurts. Currently, Fun Foods manufactures 60 products for the retail market and over 40 products for the institutional requirements. Their clients include Yum Restaurants (Pizza Hut & KFC), Subway TM, Barista, Dominos Pizza, Pizza Corner, Java Green, Costa Coffee, Yo china!, Adlabs, Mother Diary, and Taj Air Caterers.