Private Equity

VC Fund Investments

Sauce.vc picks up 4% in GRM Foodkraft

Press Release   Mint  

Publicly listed GRM Overseas has sold an over 3% stake in its subsidiary company GRM Foodkraft Pvt. Ltd. to Sauce.vc. The consumer-products focused venture capital fund has also acquired an additional 1% stake from other shareholders. The company sells a variety of Basmati Rice under Brand 10X Zarda King XXL, Wheat Flour (Atta), Besan, Daliya, Suji, Poha etc. under its 10X Shakti Brand. The 10X Ready-to-cook product kits such as Hyderabadi Biryani, One Pot Moradabadi Biryani, are claimed to be well accepted in markets. GRM Foodkraft has its presence in online and offline retail as well as the D2C segment. It claims to have over 52 Distribution Centres (DCs), serving more than 1,60,000 Kirana stores.