GBFPL raises Rs 315 crore from Goldman Sachs, Mitsui Global

Global Beverages & Foods Pvt Ltd ( GBFPL) has announced on Wednesday it has secured an equity commitment of Rs 315 crore (about $50 million) from Goldman Sachs (GS), Mitsui Global Investment (MGI) and other investors.

Founded by A. Mahendran, GBFPL will use the investment to build a FMCG platform in India. According to a statement this investment marks a significant Indo-Japanese partnership to fund and build a large, consumer-oriented company based on strong socioeconomic and demographic tailwinds. Mahendran will be the Chairman and Managing Director of GBFPL and will also be investing alongside GS and MGI.

"I am keen to partner with Goldman Sachs and MGI as both are leaders in their fields and bring a unique global perspective, coupled with extensive experience investing in India. Starting this venture with them will enable us to launch new products for the ever-developing Indian consumer," said Mahendran in a statement.

"By backing talented, local entrepreneurs, Goldman Sachs has successfully built platforms in promising sectors with tremendous market opportunity in India, including power and healthcare. Leveraging our global expertise and relationships, we are excited to now partner with Mr. Mahendran and MGI to build a large, high-quality consumer-oriented company in India," said Ankur Sahu, Co-Head of private equity in Asia at Goldman Sachs.