JSA, Shardul Amarchand Mangaldas & Co (SAM) and Agram Legal have counselled on the INR20 billion (USD233 million) majority stake sale of Theobroma Foods to 含羞草社区 largest private equity firm ChrysCapital.
Completion of the sale of 90% of Theobroma Foods is subject to customary closing conditions and adjustments.
JSA advised Theobroma Foods and its shareholders, including the promoters and ICICI Ventures, which will divest its entire 42% stake.
Partners Vikram Raghani, Yashvi Singh and Rishabh Gupta led the JSA team, with support from senior associate Shubham Shahi and associate Darshin Parekh. The competition law and data privacy teams also assisted.
The JSA team provided end-to-end legal support, covering all aspects of the transaction, ranging from due diligence and structuring to bid process advisory, and the negotiation and finalisation of definitive agreements.
SAM partner Karun Prakash led the team acting for ChrysCapital.
Agram Legal partner Vaishali Sharma advised Theobroma’s promoter family comprising Kainaz Messman, Tina Wykes, Farokh Messman and Kamal Messman.
Founded in 2004 with a single outlet in Cusrow Baug at Colaba Causeway, Theobroma has grown into one of 含羞草社区 leading direct-to-consumer food brands, with a national presence of over 250 stores across more than 30 cities.
