Advent buys out DFM foods


Buyout firm Advent International has acquired snacks maker DFM Foods from its founders and sponsor WestBridge Capital Partners. Advent will acquire up to 34.1 million shares representing up to 68% of the company’s stake for a total consideration of ₹8.5 billion (US$118 million).

J Sagar Associates was the adviser to Advent. The firm’s team comprised partners Vikram Raghani and Anand Lakra and associates Ami Shah and Khamir Kamdar. AZB & Partners was the adviser to DFM Foods. The AZB team included partners Gautam Saha, Sachin Mehta, and Dushyant Bagga, and senior associates Harshit Chandra and Punita Gupta.

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