Lighthouse Funds Contributes Rs 700 crore in FMCG Contract Manufacturer

Private equity fund Lighthouse Funds has contributed Rs 700 crore to Parsons Nutritionals, a contract manufacturer that makes treats, chocolates, candy store, malted refreshments and prepared drink blends, the firm added. 

The firm is Beacon's third venture from its recently raised fourth confidential value reserve, Lighthouse India Asset IV. The venture saw engagement from the International Finance Corporation (IFC), Evolvence India and HDFC AMC's Fund of Funds, the assertion said.

“The investment fits well into our long-term thesis of consumer products getting more organized, branded and premium," Sachin Bhartiya, co-founder and partner at Lighthouse Funds, said. The fund has invested in Unibic, Nykaa, Fabindia and Safari, among others.

This is the initial time Parsons Nutritionals has raised outer subsidizing from a private value financial investor. The subsidizing will empower the organization to extend its manufacturing limits in existing and more current item classes, as per the organization.

The contract manufacturing organization, as of late, entered into manufacturing individual consideration classes like shampoos and cleansers and has fabricating offices across five regions, the assertion said.

Swapandeep Mann, promoter and CEO of Parsons Nutritionals, said the investment would improve long-term value for all investors. “On the back of strong tailwinds in the Indian manufacturing sector, we're focused on doubling down on our capabilities and replicating the partnership with more premier brands."