Rich Products Acquires Rich Graviss, India

Rich Products Corp has acquired the outstanding 50% stake in Mumbai-based Rich Graviss Products, a market-leading provider of products for foodservice and in-store bakeries. The seller is Rich’s joint-venture partner Graviss Group. BDA Partners was the exclusive financial advisor to Rich’s on the transaction.

Rich Graviss specializes in non-dairy toppings, icings and cooking creams. Rich’s will continue to grow this bakery and foodservice business, as India has been a key growth market for Rich’s and continues to be a high priority, the company said in an announcement. 

Euan Rellie, senior managing director, BDA Partner, said: “We’re pleased to have advised Rich’s on the successful acquisition of Rich Graviss. We expect the business to flourish under Rich’s ownership. This transaction continues the strong momentum for our consumer practice. We consistently achieve good outcomes for our blue-chip clients in the food industry. Today’s turbulent markets represent an opportunity for strong global players to grow their business in the Asian markets. India is poised for outstanding growth over the medium term.”

Kumar Mahtani, managing director & head of the Mumbai office at BDA Partners, commented: “The Rich Graviss transaction is a good example of global strategic interest in the domestic consumer market in India. Even in the current difficult environment, we see strong cross-border interest from multinational companies that will continue to drive Indian M&A activity.”