Celebrity chef Sanjeev Kapoor-promoted appliances brand Wonderchef has raised Rs 70 crore from Amicus Capital Partners, a mid-market focussed private equity firm, which valued the nine-year-old firm at Rs 700 crore.The funds will be invested in brand building and expanding capabilities in terms of manufacturing and warehousing. We will also diversify the portfolio with more products,” said SaxenaThe company that initially sold its wares through alternate route such as teleshopping and a direct sales channel now gets nearly half its sales from stores including its own outlets and other multi-branded retailers. The company said it clocked revenues of Rs 180 crore in FY17-18 and said it hoped to morethan-treble it to Rs 600 crore in the next five years.
“Wonderchef has been able to build a strong brand in the cookware and kitchen appliance category within a short period of time. We are committed to helping the company emerge into a clear market leader in the next few years”, said Mahesh Parasuraman, co-founder of Amicus Capital.
The development was first reported by Economic Times
