Chryscapital is getting a stake in Theobroma through its colleagues, Infinity Partners, Aqua Investments Limited and Atreides Investments BV.
“The proposed combination is related to the acquisition of some equity shareholding of Theobroma Foods Private Limited (Theobroma) by the proposed combination Infinity Partners, Aquarius Investments and Artrids Investment BV,” India’s competition commission (CCI) said in a release.
Theobroma is engaged in more than 30 cities in India and is engaged in the manufacture and sale of bakery and confectionery products, food and beverages through its Patcharies and stores through its online platforms and other online sales channels.
The regulator stated in a post on X, “CCI Infinity Partners, Aqua Investments Limited and Artrids Investments approve the acquisition of some equity shareholding of Theobroma Foods Private Limited by BV.
According to reports, Crycapital has been scheduled to get a 90 percent stake in Theobroma foods for an estimated Rs 2,410 crore. Chryscapital signed a deal to get a majority stake in Theobroma from its promoters and current current investors. ICICI Enterpriseaccording to the report. However, the founder will maintain about 10 percent holding in the company. ICICI Venture has about 42 percent stake TheobromaIt invested about 20 million USD in 2017.
Theobroma was founded in 2004 by Sisters Kanaz Messman Harchandrai and Tina Masman Vices.
Pissings beyond a certain range require approval from the regulator, which holds a tab on unfair business practices and also promotes proper competition in the market.