India's Aavishkaar invests in Sri Lanka's MA's Foods: report
Apr 08, 2016 16:47 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Aavishkaar Frontier Fund, an India based private equity firm will invest 300 million rupees (2.1 million US dollars) in Sri Lanka's MA's Foods, a food processing firm, a media report said.
MA's Foods was founded in 1986 by Mario De Alwis and his wife Suzette. The firm initially focussed on spices and has since moved to the broader food processing sector.
"MA's has tremendous potential to scale up its business with its combination of excellent management team, established local brands, longstanding international relationships and significant backward linkages…" Sanchayan Chakraborty, Partner at Aavishkaar was quoted as saying in India's Economic Times newspaper.
The cash will be used for expansion.