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The Blackstone Group today said that it will invest Rs 243 crore in the Mumbai-based S.H. Kelkar & Company (SHK).
SHK is a manufacturer of fragrances, flavours and aroma chemicals with huge emphasis on research and development.
The company supplies a wide variety of speciality fragrance and flavour ingredients to leading FMCG companies in India and abroad.
The company aims to consolidate its position in India as well as expand its presence in the global markets.
Akhil Gupta, Chairman, Blackstone India, said: “SHK is intrinsic to India’s well-known FMCG brands that are used in everyone’s daily lives. The company has unique intellectual property and a strong market presence for over eight decades. In the domestic fragrance market, SHK is the leader with a large customer base and is the only Indian player of scale. We are excited to partner SHK management as we foresee a huge growth opportunity for SHK both in domestic and other emerging markets, driven by the growth in personal consumption in India, Africa and South-East Asia.”
Keynote Corporate Services Ltd was the advisor for this transaction.
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