PE Fund Investments
Paper Boat maker Hector Beverage raises $50-M from GIC
Gurgaon- and Bangalore-based Hector Beverages, the parent company of beverages and snacks brand Paper Boat, has raised USD 50 million led by Singapore's Sovereign Wealth Fund, GIC (via its unit Lathe Investment Pte). Post this transaction, GIC will hold a 25% stake in Hector Beverages. Hector will use the capital to fund capital expenditure, business expansion, and also for general working capital requirements. Hector had reported EBITDA losses of INR 30.27 crore for FY21, compared to an EBITDA loss of INR 76.8 crore in the previous year.
From the Venture Intelligence PE-VC Deal Database: Between Dec-10 and Jul-20, Hector Beverages had raised over USD 95 M from A91 Partners, Sofina, Catamaran Ventures, and Sequoia Capital India, Trifecta Capital, Hillhouse Capital and Footprint Ventures. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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