Lal Sweets, a Bengaluru-based sweets and snacks company, is in discussions to raise approximately $40 million from private equity (PE) investors, according to a report by The Mint.
The company, known for its range of sweets, cookies, and savory snacks, has received an initial offer from the private equity division of the Motilal Oswal Group, as per the report. The fundraising will involve both new capital and the sale of some shares by the company’s promoters.
Lal Sweets has enlisted an investment bank to assist with the fundraising efforts. This marks the company’s first attempt to secure external investment since its founding in 2010.
Founded by Prateek Athwani, Lal Sweets is one of the leading brands in the sweets and savory segment, with a presence in general trade, modern trade, online marketplaces, exclusive airport outlets, and the export market. The company is well-known for its popular products such as Mysore Pak, Besan Laddoo, Kaju Katli, and Dharwad Peda.
