Deal Talk: Kedaara-Universal Medicare eye Sanofi brands; Baring Asia shortlists Hexaware suitors

 Deal Talk: Kedaara-Universal Medicare eye Sanofi brands; Baring Asia shortlists Hexaware suitors

Mumbai-based Universal Medicare has teamed up with Indian private equity firm Kedaara Capital to acquire the branded nutraceutical business of Sanofi India, a media report said.

The planned development comes a decade after Universal Medicare sold the same portfolio to the local arm of the French drugmaker, news website Moneycontrol reported citing sources.

The report said other strategic and PE investors had also expressed interest earlier in the deal but didn’t elaborate.

It also said that the sale is part of Sanofi’s efforts to streamline its portfolio globally to increase profitability.

Citing a February 2021 report by Pharma Intelligence, Moneycontrol said that Sanofi was looking to sell 150 over-the-counter brands in a bid to overhaul its consumer healthcare operations.

Sixth Sense Ventures, DSG Consumer, Avant

Sixth Sense Ventures has led a Series A round of funding in Matrix Partners-backed health snacks startups Open Secret, according to VCCircle. The size of the round is Rs 18 crore ($2.5 million), it said.

The publication also reported an another early-stage transaction where DSG Consumer Partners, another consumer-centric venture capital firm, has invested in organic food venture Anveshan. Anveshan counts Titan Capital, an investment fund managing wealth for Snapdeal founders, as an existing investor.

In an independent transaction in the consumer space, Ananta Capital, a platform managing wealth for the Taparia family, who sold their pharmaceuticals firm Famy Care several years ago, has bet $10 million on a direct-to-consumer personal care label Bella Vita Organic.

Medikabazaar

Medikabazaar is in talks to raise as much as $60 million and has approached Creaegis Principals LLP, a private investment firm created by former PremjiInvest executives led by Prakash Parthasarathy besides Nitish Bandi, to lead the round, as per VCCircle.

PremjiInvest is the family office managing wealth for Wipro’s Azim Premji.

The company is also in talks with other investors to be a part of the investment round. The report added the funding round will entail a primary cash infusion and may lead to a partial exit for HealthQuad.

Baring-Hexaware

Baring Private Equity Asia has shortlisted bidders including Bain Capital, French company Teleperformance, KKR and Carlyle for its India portfolio firm Hexaware Technologies in a deal that could fetch nearly $3 billion, Reuters reported citing unnamed sources.

The Asian PE firm has shortlisted the bidders from 10 initial bidders to move to the next round, which is expected in August, the report added. Bids have been in the $2.5-3 billion range.

Baring PE Asia had acquired a majority stake in Hexaware for under $500 million in 2013 and had trimmed its holding five years later. Last year, it took the IT firm private by shelling out over $500 million more.

Sumit Upadhyaya

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