Predict your next investment

FOOD & BEVERAGES | Meat, Fish, Seafood & Alternative Proteins
sunrisefoodsllc.net

See what CB Insights has to offer

Stage

Acquired | Acquired

About Sunrise Foods

Sunrise Foods is a supplier of poultry products in domestic and international markets. The company also manufactures products to QSR and family dining concepts and offers chicken products.In March 2012, Sunrise Foods was acquired by Albertville Quality Foods and H.I.G Capital. The valuation of Sunrise Foods was undisclosed. Other terms of the deal were not released.

Sunrise Foods Headquarter Location

5000 Highway Suite 431

Alabama, 35950,

United States

256-894-3339

Latest Sunrise Foods News

Exclusive | Spice maker Badshah Masala completes internal rejig as promoters part ways

Sep 14, 2020

Hemant Jhaveri acquires 24 percent stake held by Kailash Jhaveri. The Badshah Masala stake sale is the third successive M&A deal in the domestic branded spices segment in 2020 after the twin buyouts of Sunrise Foods by ITC and Eastern Condiments by Norway’s Orkla through its arm MTR Foods A strategic internal restructuring exercise has been sealed by the Jhaveri family, the promoters of the popular Mumbai-based Badshah Masala, one of India’s oldest spice brands, people with knowledge of the matter told Moneycontrol. The deal represents a paradigm shift in the journey of the firm, which was established six decades ago in 1958, and signals the parting of ways of the key promoters Hemant Jhaveri and his cousin Kailash Jhaveri. “As part of the deal, Hemant has acquired the 24 percent stake held by his cousin Kailash for around Rs 130 crore, valuing the entire firm for around Rs 540 crore. An agreement to this effect has been signed by both parties,” said one of the persons cited above. The Badshah Masala stake sale is the third successive merger and acquisition (M&A) deal in the domestic branded spices segment in 2020 after the twin buyouts of Sunrise Foods by ITC and Eastern Condiments by Norway’s Orkla through its arm MTR Foods. related news Hemant now holds a controlling stake with an enhanced shareholding of 79 percent in Badshah Masala, which is managed by Jhaveri Industries. Prior to the transaction, Hemant and Kailash held 55 percent and 45 percent stake, respectively. “Kailash wants to go solo in the spices business and hence the stake sale. As part of the deal contours, his balance 21 percent stake will be sold to Hemant in a staggered manner – 7 percent annually over a period of three years,” added a second person. A third person confirmed the same. All three persons spoke on the condition of anonymity. Moneycontrol is awaiting the response to an email query sent to the Jhaveri family and has sent reminders. This article will be updated as soon as we hear from them. On December 5, 2019, Moneycontrol reported that private equity firm General Atlantic was in talks to acquire Badshah Masala through its investee firm Capital Foods, the owner of the popular Ching’s Secret brand of instant noodles and sauces. The deal did not proceed as per plans. Moneycontrol could not independently verify if the current restructuring exercise at Badshah Masala is linked to any other deal in the future. Badshah Masala competes with brands like Everest, MDH, Catch, Mothers Recipe, Priya and others in the Indian market. Jhaveri Industries had revenues of around Rs 350-400 crore for FY19, according to reports. It sells 48 varieties of blended spices and ground spices ranging from red chilli powder to curry masala and has a manufacturing unit at Umbergaon, Gujarat. Exports to countries like the United States, United Arab Emirates (UAE), Tanzania and Singapore account for a third of the firm's sales. First Published on Sep 14, 2020 10:27 pm

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.