Buyout firm Advent International has acquired snacks maker DFM Foods from its founders and sponsor WestBridge Capital Partners. Advent will acquire up to 34.1 million shares representing up to 68% of the company’s stake for a total consideration of ₹8.5 billion (US$118 million).
J Sagar Associates was the adviser to Advent. The firm’s team comprised partners Vikram Raghani and Anand Lakra and associates Ami Shah and Khamir Kamdar. AZB & Partners was the adviser to DFM Foods. The AZB team included partners Gautam Saha, Sachin Mehta, and Dushyant Bagga, and senior associates Harshit Chandra and Punita Gupta.
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