Singapore's GIC to invest $70-M in Paper Boat brand beverages owner Hector: report

Singapore's sovereign fund GIC Pte Ltd is looking to invest USD 70 million in Gurugram-based Hector Beverages, the maker of Paper Boat brand beverages and packaged foods. The deal would value the company at USD 250-280 million. The primary component is around USD 50 million, with a secondary stake sale of another USD 20 million. Hector sells packaged juices, coconut water, and traditional Indian snacks such as chikki and aam papad. It has also entered the dry fruits-based snacks and zero sugar snacks segment. Its products are available across 500,000 outlets. In the past, the company has raised capital from investors including Sofina Ventures, A91 Partners and Advent Management.