Rabo Equity Advisors, an Indian food and agribusiness-focused private equity firm, has picked up 26% equity stake in oil seed company, the Rs 650-crore Geepee Agri Private Limited (formerly Noble Grain India Pvt. Ltd), for an undisclosed sum. The investment was made through its India Agri Business Fund vehicle. The investment comes on the heels of the GP Group buying out its joint venture partner Noble Group, which claims to be Asia's largest diversified commodities trading company, in June 2009.
Geepee Agri has oilseed crushing plants at Kota, Rajasthan and Akola, Maharashtra and is planning an expansion in the large palm oil segment, which constitutes 50% of India’s consumption. The company distributes refined soyabean oil under the brand ‘Parampara’ in Rajasthan, Maharashtra and Chhattisgarh.
Rajesh Srivastava, Chairman and Managing Director, Rabo Equity Advisors, said, "Geepee Agri has witnessed rapid growth over the last few years and the superior quality of management, corporate governance and strategic insight into the business are indicators that the growth momentum will remain sustained."
This is the second investment from Rabo Equity Advisors after it injected Rs 45 crore in Hyderabad based agri-biotech firm Sri Biotech Laboratories India Ltd, engaged in manufacturing and marketing of bio-organic agri inputs.