Spices get their moment in the sun
Decades-old spices and condiments businesses are in demand and investors, from private equity to venture capital, want a taste.
Harveen Ahluwalia
14 July 2020
2
UNLOCK NOW!

There were bids from the who’s who of global investment firms.

At the top of the list were The Carlyle Group, KKR & Co. and TA Associates, as well as Norwegian food company Orkla Foods. The target was Kolkata-based spice and condiments company Sunrise Foods—a business almost seven decades old, owned by a bunch of family members who wanted to call it quits and pursue their individual ambitions.

The process went on for months, coordinated by investment bank JM Financial. And about a couple of months ago, the Indian conglomerate ITC Group took Sunrise home. The valuation hasn’t been disclosed but the ballpark figure is upwards of Rs 2,000 crore.

Sunrise Foods is not an isolated example where investors emerged in flocks to buy a regional business like this. Between

What our readers say
Why subscribers love The Morning Context
High quality, independent journalism is rare to find. The Morning Context set really high standards that make me wait for each story.
Abhay Pandey, Managing partner, A91 Capital
Well-written and researched long form reads on a wide variety of topics and a team of veteran journalists - all of this makes my subscription worth it.
Anupam Gupta, Investment research consultant
In today's very noisy and cluttered world, I like that the Morning Context goes below the surface of company PR to deliver fact-based stories on Indian business.
Jessie Paul, CEO, Paul Writer
The Morning Context is my daily opportunity to get smarter about one new company/sector. Discerning analysis, unbiased and approachable.
Miten Sampat, Angel investor & former CSO, Times Internet
In today's polarized world, authentic and unbiased facts are in short supply world over. The Morning Context is a refreshing approach towards truthful, well researched, fearless, and high-quality articles on contemporary topics.
N S Parthasarthy, Co-founder, Mindtree
As one of the early subscribers, I've had the opportunity to witness how quickly the team has grown, the variety of angles covered, and the research in every in-depth story and op-ed.
Amarjit Batra, Managing director, Spotify India
In a world full of noise, The Morning Context is the calm that stimulates and energises your mind, with stories focused on fact, truth and dogged reportage.
Nikhil Taneja, Co-founder and CEO, Yuvaa
Although it’s a paid subscription, the kind of detailed research and quality of reportage makes it worth every rupee. It’s strength surely lies in having some of the finest journalists writing for it.
Shiladitya Bora, Producer, distributor and founder at Platoon One Films
Become a TMC member
Sign up now and get free access to our starter collection.
SIGN UP