KKR commits to invest Rs 520 crore in dairy company Kwality Ltd – Feedback

US private equity firm KKR has committed to invest Rs 520 crore in Kwality Ltd, a Delhi-based private dairy company, through structured debt instruments in a transaction that is expected to rev up dairy business in the country.

“The company will use part of the proceeds to meet capital expenditure for further strengthening milk procurement infrastructure and increase processing capacity by 9.5 lakh litres per day,” Kwality chairman Sanjay Dhingra said. The company would also repay some of its high-cost debt to improve cash flows and augment brand building activities. Dominated by cooperatives such as Amul and Mother Dairy, the dairy industry in the country has recently attracted global majors like French dairy giant Lactalis that has acquired Tirumala, South India’s second-largest dairy, and Anik Industries.

http://economictimes.indiatimes.com/industry/banking/finance/kkr-commits-to-invest-rs-520-crore-in-dairy-company-kwality-ltd/articleshow/53183228.cms

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