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Gho Agro Private Limited, a dairy products company, has received private equity investment of ₹50 crore from ASK Pravi Private Equity Opportunities Fund.
The company plans to expand its product portfolio, upgrade its milk processing facility and introduce the latest technology to enhance protein content in milk, according to a press statement. Gho Agro, started in 2012, sells products such as curd, paneer , milk and lassi in Tamil Nadu and Karnataka, and has a plant in Ulundurpet, Tamil Nadu.
Vimal Chordia, Managing Director, Gho Agro, said in the statement: “The dairy segment is growing, giving opportunity for new entrants like us to adapt technology and launch products for new-age consumers.
“The funds will be utilised for branding and expansion of our product portfolio. We plan to add a new range of value-added products such as specialty cheese, Greek-style yoghurt and milkshakes.”
Branded dairySunay Mathure, Managing Partner, ASK Pravi, said in the statement: “The milk and milk-products industry is shifting towards branded and packaged products. We believe the Indian consumer is discerning and willing to pay for quality and value. The company has demonstrated its ability to innovate in product and price. We look forward to working together.”
ASK Pravi Capital Advisors Private Limited, a joint venture between ASK Group and Pravi Capital, is the investment manager for ASK Pravi Private Equity Opportunities Fund.
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