Lighthouse Funds, a private equity firm, has injected INR 700 crore into Parsons Nutritionals, a contract manufacturer operating in the FMCG sector.
In addition to Lighthouse, significant co-investors such as the International Finance Corporation (IFC), Evolvence India, HDFC AMC’s Fund of Funds, and other prominent family offices joined in the funding round, though precise information about the investment remains undisclosed.
Parsons Nutritionals specializes in the production of a wide array of packaged food and beverages, ranging from cookies and biscuits to chocolates, confectionery, malted beverages, and ready-drink mixes.
Significantly, the company has broadened its portfolio to encompass personal care items like shampoos and soaps. With manufacturing facilities situated in five states, Parsons has positioned itself as a preferred collaborator for top Indian and global FMCG firms.
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With this fundraising round, Parsons will be able to increase its manufacturing capacities in both new and existing product categories for both its present and potential new clients. This is the first time the company has raised outside capital from a private equity investor.
S.S. Mann, the promoter and chairman of Parsons Nutritionals, expressed, “As we progress in our journey as an organization, partnering with Lighthouse at this juncture aligns perfectly with our growth trajectory. Their enduring vision and familial ethos resonate deeply with the core values ingrained within Parsons.”
“Given the robust momentum in the Indian manufacturing sector, our emphasis lies in strengthening our capabilities and extending our profound partnerships to a broader spectrum of leading brands,” stated Swapandeep Mann, promoter and CEO of Parsons Nutritionals.
Acting as the exclusive financial advisor, The Rainmaker Group facilitated the transaction, reinforcing the strategic partnership between Parsons Nutritionals and Lighthouse Funds, aimed at fostering continuous growth and innovation in the FMCG sector.
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