Jubilant Bhartia Group picks up minority stake in milk-shake brand Keventers

Milk-shake and ice cream brand Keventers, operated by Super Milk Products Pvt Ltd (SMPPL), has raised an equity investment from Jubilant Bhartia Group. KPMG acted as the exclusive financial advisor to SMPPL on this transaction. Keventers started out in 1925 as a manufacturer of milk and milk products offering cheese, butter and milkshakes. The brand was resurrected in 2015 and positioned as a new-age milkshake brand in the quick-service restaurant segment. SMPPL will deploy the fresh capital towards expanding its footprint pan India and globally, while also foraying into alternative channels such as direct-to-consumer, FMCG, and cloud kitchens.