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Advent International Initiates Sale of DFM Foods, Maker of Popular 'Crax' Snacks
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Moneycontrol•21-09-2026, 19:40
Advent International Initiates Sale of DFM Foods, Maker of Popular 'Crax' Snacks
- •Global private equity firm Advent International has launched the sale process for DFM Foods, known for its 'Crax' brand, after nearly seven years of investment.
- •Multiple suitors, including PE funds and strategic players, are evaluating the opportunity, with Advent International reportedly seeking over $400 million for DFM Foods.
- •Advent International acquired a majority stake in DFM Foods in 2019 for $118-$120 million and later delisted the company, holding a 96.63% stake as of March 2025.
- •DFM Foods, established in 1984, manufactures ready-to-eat packaged snacks like corn-based extruded snacks and namkeen under brands 'Crax', 'Curls', and 'Natkhat'.
- •The company achieved robust revenue growth of 27.5% in 2025, driven by new product launches and market penetration, despite facing elevated input costs.
Key Questions Answered
Advent International is expecting a valuation in excess of $400 million for DFM Foods, with initial bids from interested parties expected later in October.
Advent International acquired a majority stake in DFM Foods from the promoters and Westbridge Capital in October 2019 for around $118 million to $120 million.
Avendus Capital and EY were picked as sell-side advisors for the DFM Foods transaction.
