Levi Strauss India’s managing director Sanjay Purohit has quit the apparel manufacturer and will join Mumbai-based private equity firm Samara Capital as partner for its consumer and retail practice.
In his immediate role, Purohit has been named chief executive of Sapphire Foods, which was set up by Samara Capital last year to acquire and lead the Yum Restaurants business in India.
Purohit will also become a board member of Hyderabad-based restaurant chain Paradise Food Court in which Samara Capital had invested around Rs 70 crore ($12 million) in May 2014.
The development was first reported by The Economic Times.
Purohit has over 18 years of experience across the consumer goods and retail space and has also worked with companies such as chocolate maker Cadbury India Ltd and Asian Paints.
Purhit, who is an alumnus of Indian Institute of Management Bangalore and National Institute of Technology, Karnataka, has been MD at Levi Strauss India for around six years.
Last year, Samara capital had acquired 300 KFC and Pizza Hut stores in India and Sri Lanka from diversified franchisees and consolidated them under Sapphire Foods, which is currently owned by a consortium of four private equity funds led by Samara Capital.
Most recently, the firm agreed to acquire Adcock Ingram Heathcare Pvt. Ltd from Adcock Ingram Holdings Ltd for $22.78 million (about Rs 151 crore) in a cash transaction.
Samara Capital was founded by Sumeet Narang, who had earlier worked with Citigroup India across various functions.
The firm’s portfolio firms include Thriveni Earthmovers (contract mining company), Asian Oilfield Services (drilling and well services), Flemingo (duty free shops), TVC Skyshop (TV shopping network), Monte Carlo Fashions (apparel manufacturing and retailing), Lotus Surgical Specialities (medical consumables maker), health and wellness store chain Guardian Lifecare and Ratnakar Bank.
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