Photo - Bikaji Foods Facebook
Business Updates

CCI approves Lighthouse Funds’ additional equity share capital in Bikaji Foods

The proposed combination involves acquisition of additional 2.727% of equity shareholding in the Target by Fund III and Lighthouse Employee Trust

FoodTechBiz Desk

On 9 August 2021, the Competition Commission of India (CCI) approves acquisition by Lighthouse India Fund III (Fund III) and Lighthouse India III Employee Trust (Lighthouse Employee Trust) (collectively referred to as Acquirers) of Bikaji Foods International (Target) under Section 31(1) of the Competition Act, 2002.

The proposed combination involves the acquisition of an additional 2.727% of equity shareholding in the Target by Fund III and Lighthouse Employee Trust. Lighthouse Funds currently has 7.472% equity shareholding in Bikaji through one of its funds. CCI tweeted, “Commission approves acquisition of additional equity share capital of Bikaji Foods International by Lighthouse Funds.”

Lighthouse Funds is a US-based company and act as the sponsor and controls private equity funds that make investments in consumer companies in India. Till date, it has raised three private equity funds that are domiciled in Mauritius. Fund III is one of these three funds and Lighthouse Employee Trust is a trust settled in India.

The Target (Bikaji Foods) is engaged in manufacturing and selling of snacks such as bhujia, namkeen, papad, chips, sweets, and cookies.

Mettler-Toledo unveils Next-Gen X-ray system to enhance food safety compliance and boost productivity

GEA centrifuges fit for the latest Rockwell Automation technology

GEA presents next generation batch freeze dryers for food applications

Tate & Lyle unveils innovative ingredients solutions for Middle East market

Lamipak to showcase new packaging solutions at Gulfood Manufacturing 2024

SCROLL FOR NEXT