OCTOBER 2015

FOOD & BEVERAGE

Dairy

DINSHAW’S DAIRY FOODS (IND) plans to raise USD 100 M from PE funds

DINSHAW’S DAIRY FOODS, a leading milk & dairy products manufacturer in India, plans to raise USD 100-120 M in private equity capital to support growth plans. The company plans to dilute about 25-30% equity & will be valued at USD 300-350 M as part of the proposed fund raising.
DINSHAW’S DAIR Y FOODS produces & markets dairy products for consumers in India with a handling capacity of 500,000 litres per day.

1 October 2015 / Livemint

TH FOOD CHAIN (VIE) to build USD 2.7 Bn dairy farm in Russia

Vietnam-based private dairy company TH FOOD CHAIN will invest USD 2.7 Bn to build a new dairy farm in Russia, through a deal sealed with the Moscow oblast (state/province).
TH FOOD CHAIN is known for its TH True Milk brand and has a 50% share of the local Vietnamese fresh milk market segment. In 2014, TH FOOD CHAIN had revenue of USD 176 M & is expected to reach a revenue USD 264 M in fiscal year 2015.

23 October 2015 / Deal Street Asia


Beverage

Pepsi bottler VARUN BEVERAGES raises USD 90 M from AION CAPITAL

AION CAPITAL bought an undisclosed stake in VARUN BEVERAGES LTD (VBL), the largest bottler of beverages in India, for USD 90 M. VBL will use half the funding to refinance its existing debts & expanding operations.
VBL provides bottling & distribution services for beverage manufacturers, the company’s portfolio includes Pepsi, 7up, Miranda etc.
VBL expects revenues of USD 617.5 M by the end of 2015.

10 October 2015 / Times of India

HINDUSTAN COCA-COLA (IND) acquires GEORGIA tea & coffee business from COCA-COLA INDIA

HINDUSTAN COCA-COLA BEVERAGES (HCCB), the bottling arm of THE COCA-COLA COMPANY, has acquired GEORGIA tea & coffee business from COCA-COLA INDIA.
GEORGIA provides a range of premium hot & cold beverages including fresh brew coffee, pre-mix flavoured tea, iced tea, etc. The manufacturing & distribution will be handled by HCCB effective October.
Financial terms of the deals were not disclosed

28 October 2015 / Livemint


Food

Philippines’ CENTURY PACIFIC FOOD INC (CPFI) bought out CENTURY PACIFIC AGRICULTURAL VENTURES INC (CPAVI) for USD 209.9 M

Philippines’ largest canned food firm CPFI has bought out CPAVI, an integrated coconut producer of organic-certified coconut products for both export & domestic markets. Both companies are wholly owned subsidiaries of local conglomerate CENTURY PACFIC GROUP INC. The funding for the transaction will be 50% cash & 50% of its newly issued shares.
This acquisition is in line with CPFI’s priority to cement itself as a leading player in the growing food market as the global trend toward healthy & organic coconut products is growing rapidly in developed economies.

27 October 2015 / Deal Street Asia

HEALTH & BEAUTY

Healthcare

Healthcare startup CARE24 (IND) raises USD 350 K

Mumbai-based CARE 24 has raised USD 350 K in seed funding from venture capital firm INDIA QUOTIDENT. The company will use the money to enhance its technology & strengthen its team.
Founded in 2014, CARE24 offers care at home through caregivers like nurses, attendants & physiotherapists. The company claims to serve 50 patients a day & is planning to add new service verticals, travel assistance & equipment renting.

29 October 2015 / Deal Street Asia

ISEC HEALTHCARE (SGP) acquired eye specialist clinic SSEC (MYS) for USD 8.79 M

ISEC HEALTHCARE has agreed to acquire the entire issued & paid-up share capital of Malaysia-based Southern Specialist Eye Centre (SSEC) for USD 8.79 M. SSEC is a private limited company incorporated in Malaysia & operates specialist eye clinics, ISEC HEALTHCARE saw the proposed acquisition is an opportunity to expand the group’s eye specialist clinic footprint in Malacca.

PER = 12.43x

19 October 2015 / BT Invest


Pharmaceuticals

Drug maker CIPLA (IND) to sell 25% stake in BIOMAB HOLDINGS (CHN) for USD 26 M

Mumbai-based CIPLA has signed an agreement to sell its entire 25% in BIOMAB HOLDING LTD (BHL) to its JV partner BIOMAB BRILLANT, which holds the remaining 75% stake in BHL, according to a stock market disclosure. Following the completion of the stake sale, BHL will be completely owned by BIOMAB BRILLANT.
BHL is focused on developing biosimilars for the Chinese market. The move to sell stake in BHL is part of CIPLA’s efforts to focus on the biological segment under its arm CIPLA BIOTEC.

29 October 2015 / Business Standard


Cosmetics

Malaysian cosmetics & skincare e-commerce platform HERMO raised USD 2 M Series A

Shanghai-based venture capital firm GOBI PARTNERS has led a Series A investment of USD 2 M into the cosmetics & beauty e-commerce platform, HERMO. Founded in 2012, HERMO targets premium-grade cosmetics products & has over 150,000 MAU.
This round of financing will be used to strengthen HERMO’s products base, enhance marketing efforts & establish regional offices outside Malaysia to drive market expansion.

Revenue 2014 = USD 2.3 M

15 October 2015 / e27

ENGINEERING & CLEANTECH

Engineering & Construction

South Korea’s LOTTE to buy SAMSUNG’s chemical business for USD 2.63 Bn

South Korea conglomerate LOTTE GROUP’s affiliate LOTTE CHEMICAL CORP will acquire various assets, including a 31% stake in SAMSUNG FINE CHEMICAL & 90% of SAMSUNG SDI LTD’s chemical business, for USD 2.63 Bn.

29 October 2015 / Korea Economic Daily


Water Treatment & Waste Management

BETTER WORLD GREEN (THA) & the INDUSTRIAL ESTATE AUTHORITY OF THAILAND (THA) form JV to invest USD 84.5 M to build waste-to-energy industrial estates

BWG & IEAT together will set up 3 industrial estates for waste-to-energy plants for the first time in Thailand, costing USD 84.5 M. The projects are initiated to promote renewable energy & solve the problem of industrial waste in Thailand.
BWG provides non-hazardous & hazardous industrial waste management services in Thailand. The company projected its revenue would expand 20 per cent from USD 42.76 in 2014 & these estates would also contribute to long-term benefits to the society & the environment.

27 October 2015 / Deal Street Asia


Renewable Energy

ASIAN DEVELOPMENT BANK (ADB) to lend USD 200 M in green energy space in India

ADB is pouring money into India’s renewable energy & microfinance sectors by lending USD 200 M to the Indian Renewable Energy Development Agency (IREDA) to support renewable energy projects in the country. IREDA promotes renewable energy investment & this new project will help producing an additional 990 MW renewable energy.
The total renewable energy investment programme is around USD 1 Bn & is expected to leverage an estimated USD 300 M in equity & other investments from sub-project sponsors & at least USD 200 M of additional debts funds.

30 October 2015 / ADB press release

NEW TECH

Payment Solutions

Payment platform SQUARE (USA) has filed for IPO

SQUARE has filed for IPO with plans to list on the NYSE. Backed by investors including KHOSLA VENTURES & SEQUOIA CAPITAL, the company set a nominal fundraising target of USD 275 M for the IPO.

2014 Total Payment volume = USD 20 Bn
2014 Sales = USD 55 M
2014 EV = USD 6 Bn
EV/Sales = 10.9x

15 October 2015 / Reuters

Thai online payment startup OMISE has raised its third round of financing from GOLDEN GATE VENTURES (SGP)

Thailand & Japan-based online payment gateway OMISE raised an undisclosed amount in Series B funding from Singapore-based VC firm GOLDEN GATE VENTURES to drive its expansion in South East Asia & Japan.
Founded in 2013, OMISE develops & provides online payment system with minimal online identification, no minimum monthly transactions & lower transaction costs. The company has previously banked USD 2.6 M for its Series A in May 2015.

28 October 2015 / Tech in Asia

Southeast Asian mobile point-of-sale venture SOFTPAY MOBILE INTERNATIONAL (SIN) gets USD 1 M Series A

SOFTPAY MOBILE INTERNATIONAL has secured USD 1 M Series A investment round led by Singapore-based fintech firm VC firm LIFE.SREDA. Founded in 2015 in Singapore with operations in Vietnam, SOFTPAY is a leading mPOS solution & Payment Facilitator company in Southeast Asia helping small businesses to accept card payments anywhere.

26 October 2015 / APER Newsflash


E-commerce

India’s second largest e-commerce marketplace SNAPDEAL in talks with investors to raise USD 300 M for FREECHARGE

Just after SNAPDEAL raising USD 500 M from ALIBABA, FOXCONN & SOFTBANK 3 months ago. JASPER INFOTECH PVT LTD, which runs SNAPDEAL, is already in talks with existing & new investors to raise about USD 300 M for further strengthen its digital services platform FREECHARGE.
Talks have began with SOFTBANK & FOXCONN, 2 sovereign funds are also in the fray to participate in this latest funding round. Mumbai-based FREECHARGE provides online facility to recharge any prepaid mobile phone, post-paid mobile, DTH & data in India.

EV = USD 450 M
EV/Sales (est.) = 6.4x

28 October 2015 / Economic Times

LINKFLUENCE (FRA) acquires ACTSOCIAL (CHN) from HERA CAPITAL (SGP)

LINKFLUENCE, a global social media intelligence firm based in France has acquired ACTSOCIAL, a major Chinese social media intelligence, a portfolio company of Singapore-based PE firm HERA CAPITAL.
The transaction amount or valuation figures have not been disclosed, but ACTSOCIAL has raised a total of USD 4.5 M (of which 2.5 M contributed by HERA CAPITAL).

15 October 2015 / Company press release

LUXURY & LIFESTYLE

Jewellery

Indian fashion e-tailer VOYLLA RETAIL PVT. LTD raises USD 15 M

Bangalore-based VOYLLA.COM raises USD 15 M from private equity firm PEEPUL CAPITAL in Series B funding. The platform provides exclusive jewellery & accessories from highly talented designers in India to worldwide customers.
VOYLLA is integrated with over 30 online marketplaces & 3 shop-in-shop stores in India. The fund will be used to expand its physical store network to 100 outlets including 40 exclusive stores.

5 October 2015 / Livemint


Fashion

MASKOOLIN (IDN) gets funding from Indonesia’s BLUE BIRD GROUP shareholder

Indonesian men’s fashion ecommerce site MASKOOLIN announced a pre-series A funding round of an undisclosed amount to support its expansion in Southeast Asia. Founded in 2012, It’s based out of Jakarta & focuses on the Indonesian market.
The website had between 65,000-100,000 monthly visits over the past 6 months & this successful funding round brings the company to a seven-digit valuation.

19 October 2015 / Tech in Asia


Food Service

Jakarta-based food-tech firm QRAVED (IDN) raises USD 8 M Series B

QRAVED, the food service venture, has raised USD 8 M Series B financing from RICHMOND GLOBAL VENTURES & GOBI PARTNERS for the enhancement of the service’s mobile & web applications. This series of funding is also followed by new investor GWC (SP) & existing investors CONVERGENCE VENTURES (IDN), 500 STARTUPS (US), Toivo ANNUS & M&Y PARTNERS.
Launched in 2013, QRAVED is an Indonesian leading food discovery service with over one million monthly users across its web & mobile applications.

30 October 2015 / Tech in Asia


Hospitality

CROWN RESORTS LTD (AUS) has bought a 20% stake in NOBU (USA) for USD 100 M

Australian casino company CROWN RESORTS acquired a 20 per cent stake in the high-end restaurant & hotel chain NOBU for USD 100 M, valuing the company at USD 500 M. NOBU, famed for its Japanese-Peruvian fusion cuisine, is a global chain of 32 restaurants & 9 hotels.
The rest of the shares will be held by its existing owners, chef Nobu Matsuhisa, De Niro & former movie producer Meir Teper.

29 October 2015 / GGR Asia

GENTING HONG KONG buys club brand ZOUK (SGP)

Global leisure & entertainment hospitality group GENTING HK has acquired Singapore club brand ZOUK for an undisclosed amount. GENTING HK will acquire ZOUK’s major trademarks along with the new ZOUK club set to open in Clarke Quay in Q3 2016.

21 October 2015 / Channel News Asia


Wine & Spirits

SAPPORO (JPN) buys out partner stake in Vietnamese JV

SAPPORO INTERNATIONAL INC., Japan’s oldest beer brand has acquired its JV in Vietnam by taking over the 29% stake owned by its partner VIETNAM NATIONAL TOBACCO CORPORATION (VINATABA).
Launched in 2011, SAPPORO VIETNAM had an initial manufacturing capacity of 40 million litres & is expected to reach 150 million litres per year by 2019.
The transaction’s value was not disclosed by SAPPORO, the firm is thought to have spent around USD 8.28 M for this buy out.

4 October 2015 / Reuters