Private Equity Firm Affirma Capital to Plunge $50 million in Tirupati Group

Private Equity Firm Affirma Capital to Plunge $50 million in Tirupati Group


Time to Read: 2 minutes

Affirma is committed to supporting the best-in-class management teams, and continues to actively seek investment opportunities in Asia, Africa and the Middle East.

Affirma Capital, a newly formed, independent private equity firm, managed by the team from Standard Chartered Private Equity, has agreed to invest in the Tirupati Group.

Affirma will invest $50 million to boost the organic and inorganic growth initiatives of the Affirma Capital. Affirma is one of the three PE firms with a stake in CCD.

Tirupati Group, which was set up in 2005, is a leading value-added contract research and manufacturing company for nutraceutical supplements in India. The leading group caters to the wide range of nutraceutical product portfolio basket of its customers, including protein supplements, ayurvedic / herbal supplements, multivitamins, minerals, fortified food and beverages, sports nutrition and pre / pro – biotic supplements across dosage forms and packing forms. They are offering a one-stop shop solution for all product development and manufacturing related requirements of its customers.

The group has a client base of over 200 customers which include leading multinational pharmaceutical and nutrition and wellness companies. Affirma is committed to supporting the best-in-class management teams, and continues to actively seek investment opportunities in Asia, Africa and the Middle East.

Mragank Jain, Executive Director at Affirma India, said, "We are optimistic about the growth prospects of the nutraceuticals and wellness opportunity. The sector is growing rapidly, driven by increasing consumer awareness around preventive healthcare. We are very excited to partner with the Tirupati Group that has built a leading position in the Indian nutraceutical industry. We look forward to supporting the Company’s strategy and driving growth, both in India and overseas, using our longstanding experience as an investor in the emerging markets, sector expertise and global network."

Related Article  Karnataka Set to Formulate New IT Policy

Dinesh Goyal, Chairman of Tirupati Group, said, "Tirupati, with its strong product development capabilities and world class manufacturing facilities has emerged as one of the leading players in the Indian nutraceuticals space. We are very happy to have Affirma Capital as our partner and we look forward to leveraging Affirma’s extensive network and business-building expertise as we embark on the next stage of Tirupati’s growth."

"The nutraceutical industry provides an opportunity to grow multi-fold over the next few years and Tirupati is the market leader in the segment, on account of its deep customer relationships and strong R&D capabilities. We will leverage our capabilities to deepen our presence in emerging product segments including sports nutrition and pre-biotic/pro-biotic supplements and together with Affirma Capital we would develop additional growth avenues over the next few years," said Ashok Goyal, CEO of Tirupati Group.


Leave a Reply

Private Equity Firm Affirma Capital to Plunge $50 million in Tirupati Group

by News Desk Time to Read: 1 min
0
AI Tool to Reshape Treatment by Predicting Cell Behaviors
Get to know the latest updates on exponential technologies, new age industry segments with our weekly XTechalpha Xclusive newsletter straight in your mailbox.