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Goldman Sachs is looking for an exit of its private equity investment in Punjab-based food major, Cremica. Goldman Sachs picked up a 10% stake in Cremica at a valuation of Rs 500 crore in 2006. Now the firm is reportedly considering a secondary sale to ChrysCapital and Blue River Capital, who have shown interest in the company.

Cremica was formed in 1978 and is into producing biscuits, condiments and sauces. The company has turnover of Rs 150 crore and is a supplier to McDonald's, Pizza Hut and Cafe Coffee Day. The report adds that Goldman looking for exit has nothing to do with liquidity crisis or downturn of the sector.

Domestic consumption sectors have turned attractive for the private equity investors as spending in the developed economies has taken a hit. India's demographics and the continued growth in the economy provides an attractive opportunity for investors.

Goldman Sachs has made several private equity investments in India totalling to $1 billion. These include  TVS Logistics, National Stock Exchange, SpiceJet, Bharti Infratel, etc.

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