New Delhi, Jan. 13 -- USK Capital, the family office of Kotak Mahindra Bank founder Uday Kotak, has acquired a majority stake in Illinois, US-based clean-label snacking firm Go Raw.
The family office acquired the stake in Freeland Foods LLC, the operator of Go Raw, through a secondary transaction. Juggernaut Capital Partners, a Washington DC-based mid-market private equity firm focussed on consumer and healthcare investments, and other early-stage investors exited Go Raw as part of the transaction.
Go Raw offers a range of premium, seed-based products including sprouted seeds, snacking granola, salad toppers and cluster snacks.
"The desire for healthy eating is a growing global trend, and the US consumer is embracing the same. Go Raw has a successful track record of robust growth and a growing retail footprint in the US," Venkat Subramanian, Chief Investment Officer at USK Capital, said in a press statement.
Go Raw is USK Capital's first investment in the consumer segment and the first acquisition overseas, the statement said.
In a separate statement, Juggernaut said that during its ownership, Go Raw more than doubled revenue, broadened distribution across grocery, natural, club and e-commerce channels, and expanded its product portfolio while maintaining its commitment to organic, plant-based ingredients.
Published by HT Digital Content Services with permission from VC Circle.