Pickles and spices seller Nilon’s taps investors for majority stake sale at Rs.1,200-Cr valuation

Pune-based Nilon’s , which sells pickles, spices and other packaged foods, is exploring a majority stake sale that could value it at INR 800-1,200 crore (about 2-2.5x its revenue). O3 Capital is helping the company find buyers.Founded in 1962 by Suresh Sanghavi, Nilon’s sells cooking pastes, Chinese range, ready-to-cook mixes, pastas, instant mixes, jams, ketchup and sauces, sewaiyan, chutney and breakfast cereals. It has a presence across 400,000 retail outlets in India with over 13 depots and 3,000 distributors.The founding family holds close to a 20% stake in the company, while the rest is held by the funds, enterprises, and other investors including Banyan Tree Capital, Spark Midas Investment Fund, and London-based entrepreneur Kirit Pathak.The company has manufacturing plants in Maharashtra and the North-East, and its products are exported across the world.