South India’s Ice Cream Leader Dairy Day Attracts Investment from Kedaara Capital

Kedaara Funds Dairy Day
Preeti Bali / 12:56 pm / March 22, 2024

Kedaara Capital, a prominent investment firm, has announced its plans to invest in Dairy Classic Ice Creams (Dairy Day), a leading ice cream brand in South India. This strategic move will enable a full exit for Motilal Oswal Private Equity and other angel investors who previously supported Dairy Day’s growth.

Shared Vision for a Beloved Brand

M.N. Jaganath, Managing Director and CEO of Dairy Day, expressed optimism about the partnership. “We share similar values and aspirations with Kedaara Capital,” he stated. “Their extensive experience, particularly in retail and consumer goods, will be invaluable as we accelerate our growth trajectory. We are confident that with their support, we can establish world-class production facilities across various locations in the coming years.”

Strong Foundation for Future Success

Headquartered in Bengaluru, Dairy Day enjoys a well-established presence across South India. Its robust network of over 50,000 retailers spans Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and Maharashtra. The company boasts an impressive production capacity of two lakh litres per day, with plans to increase it by an additional 1.5 lakh litres daily. Additionally, Dairy Day has achieved a remarkable 30% compounded annual growth rate (CAGR) in revenue over the past decade, highlighting its consistent success.

Kedaara Capital Sees Untapped Potential

Sunish Sharma, Founder and Managing Partner of Kedaara Capital, commented on the exciting prospects of the investment. “The ice cream industry is experiencing rapid growth within the food and beverage sector,” he noted. “We are thrilled to partner with the talented team at Dairy Day, led by M.N. Jaganath and A. Balaraju. This collaboration will empower us to unlock Dairy Day’s full potential and solidify its position as a leader in the market.”

Kedaara Capital brings a wealth of experience to the table, managing a diverse portfolio of investments exceeding $3.7 billion across various sectors, including consumer goods, financial services, and technology.

More Stories