Raw Pressery, known for its premium cold-pressed juices, is in talks with multiple packaged consumer goods firms, including ITC and the Paper Boat brand, for either divesting stake or getting on board a strategic investor for the juices division, three officials aware of the development said.
Raw Pressery had raised over Rs 200 crore in equity and debt from a clutch of funds including Alteria Capital, Sequoia Capital, Saama Capital and DSG Consumer Partners two years ago. But it is now facing headwinds as consumers in key urban markets downtrade and opt for cheaper juices, said one of the officials cited above.
The sale is being valued anywhere between Rs 150 and Rs 200 crore, the officials said.
The premium, healthy beverages start-up, which started selling high-end packaged juices and smoothies in 2013, had planned to diversify to other newer categories including fresh foods, but hasn’t been able to achieve scale in the new businesses.
Ref: Economic times