Mumbai: Private equity (PE) investor Advent has bought a minority stake in Gujarat’s Iscon Balaji Foods (IBF) in a $150 million deal, the companies said in a joint statement on Tuesday, without sharing specifics of the transaction. The investment is part of a broader $215 million fundraise by IBF which has also been backed by local asset management firm 360 One.

Iscon Balaji Foods raises $215 million in funding led by Advent International to enhance growth and processing capabilities.

Mumbai: Private equity (PE) investor Advent has bought a minority stake in Gujarat’s Iscon Balaji Foods (IBF) in a $150 million deal, the companies said in a joint statement on…