Chennai, Jan 10(PTI): Southern Health Foods, makers ofhealth food products under popular brand 'Manna Foods' todaysaid a fund managed by Morgan Stanley Private Equity Asia hasinvested Rs 152 crore for its expansion plans.
"We are excited to back a fast growing brand such asManna which has consistently delivered on its customer promiseof natural, healthy and high quality products," Morgan StanleyPrivate Equity Asia, Co-Head, Arjun Saigal said in astatement.
The proceeds will be used to fund the company's expansionin South India as well as to provide part exit to existinginvestors.
MAPE Advisory Group has acted as the sole financialadvisor for the transaction.
Earlier in 2015, the company had raised Rs 30 crore frominvestors led by Fulcrum, the statement said.
"Manna Foods is excited about the partnership with MorganStanley to write a true success story in the health foodsspace in India," the company's promoter I S A K Nazar said.
Manna manufactures and retails ethnic millet-basedbreakfast cereals, instant drink mixes, infant foods, dryfruits among many others.
The company has over 500 distributors, who cater to over67,250 retail outlets across the country. PTI VIJSS.
This is unedited, unformatted feed from the Press Trust of India wire.
