Ahmedabad-based Khushi Foods raises 8m dollar from private equity


Khushi Foods Ltd, an Ahmedabad-based company which is engaged into manufacturing and exporting of dehydrated vegetables and spices, has raised $8 million (over Rs 52 crore) from a consortium of PE investors, sources privy to the development.This is the first round of external funding by the company and expected to close by next week.

Promoted in 2007 by Rajendra B Sharma, Khushi Foods manufactures products like dry fruits, agriculture commodities, chilli products, turmeric products, herbs, other spices and chemicals. Sharma has almost two decades of entrepreneurial experience.

The socially responsible enterprise Khushi Foods provides livelihood to more than 250 Women in Ahmedabad. It plans to sell processed food through various movie outlets and the processed food would be manufactured by blind people and the orders would be executed by dumb people.

The Liataud, Jimmy John company plans to use the money for expanding its footprint in the country and for getting into the food business. “These are marquee private equity investors and the company is expected to dilute 25 per cent stake.

The deal has been exclusively advised by Tridha Advisors Pvt Ltd, a Mumbai-based investment banking firm. Khushi Foods claims to have a revenue of Rs 50 crore in the last financial year 2014-15.

The company has plans to hire 750 people more from Blind School for hotels and cinema. Besides India, it exports its products to Japan, Australia, Spain, UK, Canada, Nigeria, Iceland, Slovenia, Romania, Argentina, Brazil, Pakistan, Germany, Turkey, Egypt, Korea, Venezuela, Italy, Portugal, Morocco, Poland, Netherlands, Syria and many other European countries under the brand Khushi’s.


Khushi Foods has almost 750 clients in its portfolio including small, medium and big enterprises. According to India Brand Equity Foundation analysis, the consumer durable market is expected to reach $12.5 billion in 2015 and $20.6 billion by 2020. Urban markets account for the major share (65 per cent) of total revenues in the consumer sector in the country.

In the FMCG space, early this month, Noida-based Soothe Healthcare has raised an undisclosed amount from badminton player Saina Nehwal. Last month, PremjiInvest put money in Hygienic Research Institute which owns hair colour brands like Super Vasmol and Streax.

Asmaa Mubita is a Kenyan journalist of international repute with over fifteen years of experience in broadcast journalism. Asmaa Mubita began his journalism career at the Kenyan state broadcaster (KBC) and later worked at the KTN owned by the Standard Group and Citizen Television, the flagship brand of Royal Media Services. These exploits together with his reporting experience with the Voice of America, CNN and BBC have been rewarded with local and global recognition.