Private Equity Fund Investments
Universal Medicare taps Kedaara Capital to buyback nutraceuticals biz from Sanofi for Rs.587-Cr
Mumbai-based, publicly listed Sanofi India is to make a slump sale and transfer of its nutraceuticals business, on a going concern basis, to Universal Nutriscience Pvt Ltd for INR 587 crore, including debt-like obligations. The deal, finalised via a competitive auction process, is expected to be completed in 3 months. Incorporated in June 2021, Universal Nutriscience is a strategic partnership between Kedaara Capital Fund II LLP and Universal Medicare Pvt Ltd. Deloitte acted as the exclusive financial advisor to Sanofi India on this transaction. The target nutraceuticals business comprises 16 brands and 30 SKUs. These, along with related business assets and liabilities including contracts, intellectual property rights, inventory, and all employees associated with the business, will transition to Universal Nutriscience. For the fiscal ended December 2020, the nutraceuticals business posted INR 128 crore in revenue.
From the Venture Intelligence M&A Deals Database: In Aug-11, Sanofi India (via its unit Aventis Pharma) had acquired Universal Medicare's branded nutraceutical formulations marketing and distribution business in India (along with its 750 employees) for INR 567.1 Cr. For FY11, the acquired business reported sales of INR 110 Cr.
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