<article>Mid-market private equity fund <a href="http://dealstreetasia.com/tag/amicus-capital" target="_blank" rel="noopener">Amicus Capital</a> has closed an investment of Rs 70 crore ($10.3 million) in cookware and kitchen appliances brand <a href="http://dealstreetasia.com/tag/wonderchef" target="_blank" rel="noopener">Wonderchef</a>.</article>

Mid-market private equity fund <a href="http://dealstreetasia.com/tag/amicus-capital" target="_blank" rel="noopener">Amicus Capital</a> has closed an investment of Rs 70 crore ($10.3 million) in cookware and kitchen appliances brand <a href="http://dealstreetasia.com/tag/wonderchef" target="_blank" rel="noopener">Wonderchef</a>.
The celebrity chef Sanjeev Kapoor-promoted cookware and kitchen appliances brand plans to use this latest funding to expand its distribution reach, brand building and setting up an integrated manufacturing, assembly and warehousing facility.
The Mumbai-based firm also intends to add new product segments and deepen its presence across India, according to an official statement.
&#8220;With additional funding, the already profitable company would plan to grow to a size of Rs 6 billion in sales in the next five years,&#8221; it added.
Founded in 2009 by industry veteran Ravi Saxena in partnership with Sanjeev Kapoor, Wonderchef offers non-stick cookware and kitchen appliances, such as nutri-blend, cold-press juicers, high-end cooktops, ovens, bakeware, mixer-grinders, air-fryers, toasters among others.
The company sells its products through multiple channels including exclusive Wonderchef outlets, 735 department stores, over 7,000 electrical and cookware stores, e-commerce websites, TV Shopping, institutional sales, direct marketing network of 50,000 women entrepreneurs, as well as on its own retail website.
In April 2017, Wonderchef had raised nearly $6 million (Rs 40 crore) from French group Labruyere Eberle to set up a new manufacturing facility by the end of the year, to expand into new product segments including large appliances, and tap new markets. Prior to that, it had received Rs 30 crore from Zurich-headquartered investment firm Capvent in 2015.
This marks Amicus&#8217; second investment from its maiden fund, after it invested $9 million in online insurance aggregator <a href="http://dealstreetasia.com/tag/renewbuy" target="_blank" rel="noopener">RenewBuy</a> last year. Founded in 2015 by Sunil Theckath Vasudevan (ex-India Value Fund) and Mahesh Parasuraman (ex-Carlyle), Amicus Capital is an India dedicated mid-market growth capital fund with assets under management worth Rs 600 crore.
Zanskar Advisors was the investment banker on the transaction.
The cookware space in India has been seeing some action lately with consumer durables firm Bajaj Electricals acquiring non-stick cookware company Nirlep Appliances Pvt Ltd for Rs 42.5 crore ($6.2 million) in an all-cash deal. It was also recently reported that Sequoia Capital-backed kitchen appliances maker Stovekraft Pvt. Ltd was planning a public listing for which it has hired investment banks.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-digest-12-34968/" target="_blank" rel="noopener">Wonderchef looks to raise $15m to scale up marketing, product line</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-34-84285/" target="_blank" rel="noopener">India: Online insurance platform RenewBuy raises $9m from Amicus Capital</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/69746-69746/" target="_blank" rel="noopener">Labruyere Eberle backs Wonderchef</a>

Mid-market private equity fund Amicus Capital has closed an investment of Rs 70 crore ($10.3 million) in cookware and kitchen appliances brand Wonderchef.

Amicus Capital invests $10m in Sanjeev Kapoor's cookware brand Wonderchef

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Amicus Capital invests $10m in Sanjeev Kapoor's cookware brand Wonderchef

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