Manipal Buys US Fragrance Co For $200M - Manipal Group`s home fragrance company Primacy Industries has acquired US-based Midwest-CBK, the manufacturers of household candle brands like Colonial Candle, Seasons of Cannon Falls and CBK, in an all-cash deal. Midwest-CBK is a 100-year-old seasonal gifting, holiday and home decor, and accessories brand with revenue of $105 million. Bangalore-based Primacy is said to be paying about $200 million (Rs 900 crore) to acquire the company. Midwest-CBK is a division of NYSE-listed Blyth Inc, which has a revenue of over $1 billion and deals in home fragrances in the direct-to-consumer space. (Times of India)
Caparo Energy To Raise $150M From PEs - Caparo Energy India, wholly-owned subsidiary of Caparo Energy, owned by the UK-headquartered diversified Caparo Group from the lineage of Swraj Paul, is understood to have mandated investment bankers to raise $150 million (Rs 700 crore) through the private equity route. The company, which is into wind power generation in India, is charting a two-phased expansion plan, which will see them generate upto 5,000 Mw over the next six years. The first phase will see a generation capacity of 3,000 Mw in another five years, while the other 2,000 Mw will be produced in the second phase. (Business Standard)
DAR Capital Raises Rs 100Cr For Film Fund - London-headquartered private equity firm DAR Capital has received Rs 100 crore in its first tranche for a Rs 250 crore film fund that it is creating to provide financing support to Bollywood and regional cinema in India. The funds have been raised from investors in India, Middle East and Europe. Dar Motion Pictures, the movie arm, has already worked out the first stage of its investment plans and will be deploying Rs 100 crore across six films. (Indiantelevision)
Accel Partners, Tiger Global Invest $2.5M in BabyOye.com - Accel Partners, and global PE firm, Tiger Global, have invested $2.5 million in online babycare products retailer BabyOye.com.
The six-month-old start-up will use this first round of funding to hire people, expand its supply chain, build warehouses and increase product range to include 20,000 items by the end of this year. Founded by first-time entrepreneurs Sanjay Nadkarni and Arunima Singhdeo, Babyoye has tied-up with over 80 brands and offers a range of over 4,000 products, including Pampers diapers, Chicco food, Johnson’s skincare range and cyclemaker BSA’s prams and strollers. (Economic Times)
Fortis Buys 86% In Super Religare - The board of Fortis Healthcare today took an “in principle” decision to acquire 86% shares of diagnostic services chain Super Religare Laboratories (SRL) for an undisclosed sum. Both Fortis and SRL are controlled by billionaire brothers Malvinder and Shivinder Mohan Singh. SRL is in the process of getting listed on stock exchanges, while Fortis is already a publicly listed company. The acquisition will result in the entire promoter stake in SRL getting transferred to Fortis. (Business Standard)
McNally Bharat Takes 22% In LSE-listed Firm - McNally Bharat Engineering Co Ltd has increased its holding in London Stock Exchange-listed Specialist Energy Group Plc to over 22%, a move being seen as the precursor to its ultimate takeover by the Deepak Khaitan-controlled company. MBE Mineral Technologies Pte Ltd, McNally Bharat’s fully owned subsidiary, has disclosed to the London Stock Exchange a week back that its holding in Specialist Energy, a maker of electric motors and pumps, has touched 22.74%. (DNA)
Sunteck, Piramal To Buy Mafatlal Land - Real estate developer Piramal Realty Ltd, owned by Piramal Healthcare Ltd chairman Ajay Piramal, and Mumbai-based Sunteck Realty Ltd are close to signing a deal to buy Mafatlal Industries Ltd’s seven-acre plot in central Mumbai for around Rs.750 crore. Real estate consultant Jones Lang LaSalle India is the exclusive adviser to the deal.