Private equity fund Amicus Capital has invested Rs 700 million in celebrity chef Sanjeev Kapoor’s cookware brand Wonderchef. With additional funding, the company plans to grow to a size of Rs 6 billion in sales in the next five years.
We are delighted to partner with Wonderchef and are committed to helping the company emerge into a clear market leader in the cookware and kitchen appliances category in India in the next few years,” said Mahesh Parasuraman, Partner, Amicus Capital.
Prestige and Hawkins are current leading players in the cookware segment which is growing at a compounded annual growth rate of over 13 per cent, according to industry experts.
With an AUM of Rs 6 billion, Amicus Capital focuses on investing in financial services, consumer, healthcare and technology & business services sectors.
Wonderchef was founded in 2009 by industry veteran Ravi Saxena in partnership with Kapoor. Saxena has earlier launched several companies such as Sodexo, Gloria Jean’s Coffee, and The Yellow Chilli chain of restaurants.
Last year, the cookware brand promoted by Kapoor had received Rs 400 million from French group Labruyere Eberle to expand its portfolio. In 2015, it raised Rs 300 million from Swiss investment firm Capvent.