ChrysCapital out of CavinKare, CKR regains full control

The buyout move by CavinKare’s promoter CK Ranganathan, CMD, marks ChrysCapital’s first full exit from its sixth fund, which has entered its harvesting phase. 

ChrysCapital had invested Rs 250 crore in CavinKare in 2013 and the investment delivered a little over two times of return in less than four years. “ChrysCapital played an excellent catalytic role. They triggered the needed change which led to a wonderful performance,” Ranganathan said in the statement. 

The Rs 1,350-crore turnover CavinKare started its journey with Chik Shampoo brand in the 1980s and has risen to become one of India’s largest FMCG companies during the last three decades. During the last decade, CavinKare successfully transformed itself from a pure personal care player to a FMCG conglomerate, with interests in dairy, snacks, food and beverages businesses. 

The statement is silent on the buyout price or the stake percentage held by ChrysCapital in CavinKare. 

At a time when growth in the personal care space has been muted for most companies, CavinKare has enjoyed a strong growth of 15 pc during the last few quarters. The  firm has many Rs 100 crore brands in the hair care space and occupies the top three positions in the hair wash/ colour market.