Piramal-Bain Capital Fund IndiaRF invests Rs 310 crore in Primacy Industries

The proceeds from the investment will be used to strengthen Primacy’s balance sheet and provide fresh capital to fuel its growth plans.

Primacy is a manufacturer in the rapidly growing contract business for fragrance-based consumer products in the air care, personal care and health and hygiene categories. With an operating footprint in the India, US, Europe, Middle East and Australian markets, Primacy caters to some of the largest retailers and consumer product companies in the US, Europe and India. Backed by its manufacturing, design strength, reliable and collaborative supply chain, Primacy is well positioned to provide diverse product solutions to meet the demands of global brands and private labels, the fund said in its statement.

“We are excited to partner with Primacy and its management team to capitalize on significant growth and M&A opportunities in the fragrance-based consumer product manufacturing space. India is one of the lowest cost manufacturing destinations globally And we see huge potential for a high quality global platform like Primacy to benefit from greater manufacturing outsourcing opportunities in the fragrances and allied consumer product categories.IndiaRF has strong fundamentals and strong fundamentals to grow its balance sheet and provide growth capital. continues to focus on partnering with businesses with solid management teams,” said Shantanu Nalwadi, Managing Director, IndiaRF.

India Resurgence Fund invests capital both in the form of debt and equity. The fund seeks to invest in companies that have strong growth prospects fundamentally linked to India’s infrastructure and consumption needs and are competitive on cost and quality in export markets.

Gautam Pai, President, Primacy Industries Limited said, “The investment from IndiaRF will allow us to leverage their experience in bringing operational excellence and accelerate our ambitious growth trajectory with best in class performance and profitability parameters.”