General Atlantic Acquires 27 Percent Stake in Ching’s Secret for US$54 Million (Asia)
Source(s): Business Standard | Author(s): Pavan Lall
Global growth equity fund manager General Atlantic has acquired a 27 percent stake in India-based Indian-Chinese grocery brand Ching’s Secret for INR3.7 billion (approximately US$54 million) from global investment company Invus and the brand’s parent entity, India-based Capital Foods. Products sold under the Ching’s Secret brand include instant soups and noodles, spices, sauces and chutneys. General Atlantic’s investment will reportedly include a second tranche, which is expected to close in 2019.