Advent Swallows India's DFM Foods In Up To $130M Deal

Law360 (September 9, 2019, 8:21 PM EDT) -- Advent International has agreed to pay as much as $130 million for a majority stake in India-based snack food business DFM Foods Ltd., which sells snacks under brands including Crax, Curls and Fritts, the companies said Monday.

Under the terms of the transaction, Boston-based Advent will acquire up to 34.1 million DFM shares from WestBridge Crossover Fund LLC and certain other individual shareholders for 249.50 Indian rupees ($3.48) per share, according to a statement. If Advent picks up all 34.1 million shares, it will represent an ownership stake of 68 percent. 

Additionally, as necessitated by the Securities and Exchange Board of...

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