Kedaara Capital invests in Dairy Day

Delhi: Kedaara Capital announced an investment in Dairy Classic Ice Creams (“Dairy Day”), an ice cream brand in South India. The  investment will provide full exit to Motilal Oswal Private Equity and other Angel Investors.

Kedaara will work closely with the promoters, M.N. Jaganath and A Balaraju and the professional  management team in the Company’s next phase of growth. 

M.N. Jaganath, Managing Director and CEO and A. Balaraju, Director – Technical, said "We are  delighted to welcome Kedaara as our valued partner for the next phase of our growth. 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. Their wealth of expertise and in-depth retail and  consumer experience will be invaluable as we expedite our growth. We are confident of setting up world class production facilities in various locations in the coming years. We are also thankful to Motilal Oswal  Private Equity – our collaboration with them has been extraordinary. Our relationship has set a gold  standard for what a true partnership should be.” 

Sunish Sharma, Founder and Managing Partner and Anant Gupta, Managing Director of Kedaara  Capital, said, “Ice Cream is one of the fastest growing categories within the entire food and beverage segment. Dairy Day’s dedication to quality, and its commitment to delivering “goodness” has resonated  deeply with consumers across its target markets, propelling the brand to a market-leading position. The  company is led by a passionate and very strong execution focused team. We are excited to partner with  Mr. M.N. Jaganath, Mr. A. Balaraju, and rest of the team to help them unlock Dairy Day’s full potential,  and further strengthen its leadership position.”

Vijay Dhanuka, Managing Director, MO Alternates, said, “As long-term shareholders and partners  to Mr. M.N. Jaganath and team, we have had a ring side view of Dairy Day’s growth journey. Over the last  6 years, they have demonstrated strong growth and established a market leading position in South India.  With Kedaara coming in, we believe the Company will be well-funded and strengthened to build an  enduring business.” 

EY acted as the exclusive investment banker on this transaction.