Condiments seller Cremica buys back 35% stake from Kroll ahead of planned IPO

Delhi-headquartered packaged foods and condiment maker Cremica Foods has repurchased a 35% stake held by institutional investor Kroll. Following this secondary transaction, approximately 90% of the firm is now owned by the founding family, with the remaining stake held by angel investors. The company has shifted its strategy away from a planned INR 500-Cr private fundraise and is now focused on appointing investment bankers for a public listing that could value the company between INR 1,500-Cr and INR 2,000-Cr.Founded by the Bector family, Cremica sells a range of packaged foods and condiments, including ketchup, sandwich spreads, salad dressings, chutney, and mayonnaise. It also maintains a business-to-business (B2B) arm that supplies these products to fast food chains and the hotel and catering industry.