INDIA – Kedaara Capital, a prominent private equity firm, has announced a significant investment in Dairy Classic Ice Creams Private Limited, commonly known as Dairy Day, a renowned ice cream brand based in South India.
The investment marks a strategic move by Kedaara to support Dairy Day’s vision of becoming one of India’s most beloved ice cream brands.
Moreover, this investment will facilitate a complete exit for Motilal Oswal Private Equity and other Angel Investors, signifying a new phase in Dairy Day’s journey.
Headquartered in Bengaluru, Dairy Day has firmly established its presence across multiple states including Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and Maharashtra, boasting a network of over 50,000 retailers.
The company is set to expand its production capacity by adding 1.5 lakh litres per day, augmenting its existing capacity of two lakh litres per day.
Notably, Dairy Day has achieved an impressive revenue growth of 30 percent compounded annual growth rate (CAGR) over the past decade.
In the forthcoming growth phase, Kedaara Capital will collaborate closely with Dairy Day’s promoters, Mr. M.N. Jaganath and Mr. A Balaraju, along with the professional management team.
The partnership aims to leverage Kedaara’s expertise and experience in retail and consumer sectors to accelerate Dairy Day’s growth trajectory.
“We are delighted to welcome Kedaara as our valued partner for the next phase of our growth,” Mr. M.N. Jaganath, Managing Director and CEO, and Mr. A. Balaraju, Director – Technical, stated.
“Given the convergence of values and aspirations, we are confident Kedaara will help us deliver on our vision to make Dairy Day one of India’s most loved ice-cream brands.”
In addition, Sunish Sharma, Founder and Managing Partner, and Anant Gupta, Managing Director of Kedaara Capital, expressed confidence in Dairy Day’s potential, highlighting the brand’s commitment to quality and consumer satisfaction.
They emphasized the company’s strong leadership team and their dedication to execution excellence.
Mr. Vijay Dhanuka, Managing Director of MO Alternates, praised Dairy Day’s growth journey and expressed optimism about the company’s future with Kedaara’s investment, foreseeing a strengthened position for Dairy Day in the market.
“The investment by Kedaara Capital signifies a significant milestone for Dairy Day, underscoring its position as a leading player in the ice cream industry and paving the way for accelerated growth and market expansion.”
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