Bain Capital in talks to buy Indian ice cream maker Vadilal - CNBC-TV18 (updated)

Vadilal Enterprises

10/07/2023 10:24

(Adds shares in paragraph 2, background in paragraph 3,
comments from firms in paragraph 5)
       July 10 (Reuters) - U.S. private investment firm Bain
Capital is in talks to buy Indian ice cream maker Vadilal and
also considering taking control of Vadilal Industries  VDLI.NS 
and Vadilal Enterprises  VADE.BO , which make and market the ice
cream, CNBC-TV18 reported on Monday.
    Bain Capital is also interested in merging the two Vadilal
entities and is valuing Vadilal's ice cream business at over 30
billion rupees ($363.11 million) the report, citing sources with
knowledge of the matter, added.
        Vadilal did not immediately respond to a Reuters request
for comment, while Bain Capital declined to comment.
  
        Shares of Vadilal Industries soared to its record high,
rising as much as 18.6% after the 
    report
    .
  
        Vadilal Industries manufactures the ice cream, while
Vadilal Enterprises takes care of the marketing and distribution
of its products.
  
    


($1 = 82.6189 Indian rupees)

    
    

 (Reporting by Aleef Jahan in Bengaluru; Editing by Nivedita
Bhattacharjee)
 ((aleefjahan.cs@thomsonreuters.com;))