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LT Foods Ltd, best known for its packaged rice brand Daawat, is raising Rs 140 crore in fresh funding from existing investor Rabo Equity Advisors for its wholly-owned unit Nature Big Foods Ltd.
Rabo Equity is a private equity firm which focuses on the Indian agriculture and food sector. It had previously backed Daawat Foods Ltd, another subsidiary of LT Foods.
Nature Big Foods (NBF) produces organic items and is one of LT Foods’ fastest-growing business units. NBF, which was launched in 1998, offers organic produce in categories such as basmati and non-basmati rice, pulses, oil seeds, cereal grains, spices, nuts, fruits and vegetables.
LT Foods manufactures and exports products under three broad verticals: value-added products, organic food and international trading under brands such as Daawat, Royal, Devaaya, Heritage, Rozana and Chef’s Secretz.