American PE company Warburg Pincus and Indian focused investment manager Everstone Capital are in talks to acquire a minority stake in SAIF Partners backed Vadodara–based juice manufacturing and marketing firm Manpasand Beverages.
The deal size would be in the range of INR1bn ($16.6m) - INR1.5bn ($24.95m).
Established in 1998, Manpasand intends to use the funds to expand into new markets, product launches and for capacity expansion.
The juice manufacturing and marketing firm has a strong presence in tier-II cities and rural markets in India. Apple Sip, Guava Sip, Litchi Sip and Mango Sip are the fruit juice brands of Manpasand Beverages.
Manpasand has roped in IDFC Capital and Deloitte to help find a suitable buyer.
The packaged juices market in India is estimated to grow at a compound annual growth rate of 15% over the next three years.
Dabur, PepsiCo, Parle, Fresh Gold, Godrej and Hector Beverages are some of the prominent players in the Indian packaged juices market.
