Tata Consumer said of Capital Foods’ acquisition, “75% of the equity shareholding will be acquired upfront, and the remaining 25% shareholding will be acquired over the next three years.”

“This move is consistent with Tata Consumer’s strategic intent to broaden its product portfolio and target addressable market in high-growth, high-margin categories.” Capital Foods has strong umbrella platform brands and a portfolio of distinctive in-home consumption items in fast growth areas. Ching’s Secret is a market leader in Desi Chinese products such as chutneys, blended masalas, sauces, and soups. Smith & Jones is a rapidly expanding brand that specializes in in-home cooking of Italian and other western cuisines. “Capital Foods has #1 or #2 positions in five major categories,” said Tata Consumer in a statement.

Capital Foods

The total market value of the categories in which Capital Foods operates is projected to be Rs 21,400 crore. According to the Tata group corporation, structural growth drivers for the category include sustained income growth, altering consumer tastes leading to increased salience of global cuisines in in-home cooking, and a rising need for convenience.

Capital Foods’ estimated turnover for FY24 is Rs 750 to 770 crore, according to Tata Consumer. Organic India’s estimated revenue for FY24 is between Rs 360 and 370 crore.

“Today is a historic day for Capital Foods,” stated Ajay Gupta, Founder of Capital Foods. It is a dream come true for me to be affiliated with the legendary Tata Group. Even the name ‘Tata’ inspires trust and pride in every Indian. Tata, like Capital Foods, is a worldwide recognized homegrown brand. Tata Consumer Products is a global business that provides high-quality food ingredients and products. Ching’s Secret has evolved from three bottles of sauce to a whole ‘Desi Chinese’ food block in 28 years. Smith & Jones covers yet another food category with enormous potential. Tata and Capital Foods can collaborate to establish an international culinary brand that spans various food categories.”

General Atlantic, which purchased a stake in Capital Foods in 2018, is one of the company’s investors.

“We have had a great partnership with Ajay Gupta in scaling Chings and Smith & Jones into the most adored brands in their categories,” stated Shantanu Rastogi, Managing Director and Head-India for General Atlantic. We wish Ajay and Tata Consumer Products all the best in the next phase of Capital Foods’ development.”

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