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Sequoia Capital to pump in $30 million in Indore company Prakash Snacks
Tuesday, 28 June, 2011, 08 : 00 AM [IST]
Our Bureau, New Delhi
Venture capital company, Sequoia Capital, has decided to pump in $30 million in leading snacks food company from Indore, Prakash Snacks Pvt. Ltd.

With the help of the new funds, Prakash has plans to add a new range of Indian

namkeen or savouries and expand production capacities at its manufacturing plant.

As part of the investment, V T Bharadwaj and G V Ravishankar of Sequoia Capital will now be joining the board of BCM Group's Prakash Snacks.

The snacks company manufactures potato chips and extruded snack foods under the Yellow Diamond brand. It had started operations in 2004-05 for making potato chips and diversified into the production of extruded snacks in 2006-07.

The group has presence across diverse businesses such as snacks food manufacturing and food processing. Prakash Snacks posted total revenue of Rs 154.47 crore in 2009-10 against Rs 102.4 crore in 2008-09.
 
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