M&A

M&A

Dabur to acquire 51% stake in spice-seller Badshah Masala for Rs.588-Cr; balance after 5 yrs

BSE Disclosure  

Publicly listed, Delhi-based FMCG company Dabur India is to acquire 51% stake in Mumbai-headquartered Badshah Masala Pvt Ltd in an all-cash deal for INR 587.52 crore. Dabur would acquire the balance 49% after five years. Badshah Masala is engaged in the business of manufacturing, marketing and export of ground spices, blended spices and seasonings. The deal pegs the enterprise value of the target company at INR 1,152 crore which translates to a revenue multiple of around 4.5x and EBITDA multiple of around 19.6x of FY2022-23 estimated financials. It had reported a turnover of INR 189.1 crore for FY22. Badshah Masala was started by Jawaharlal Jhaveri and Indiraben Jhaveri in 1958. It sells 52 products available in India and overseas markets. The firm has two manufacturing facilities in Umargam, Gujarat.