Uday Kotak's family office buys Go Raw

Mumbai: USK Capital, the family office of billionaire banker Uday Kotak, on Tuesday acquired a US-based snacking brand, Go Raw. USK Capital has made the bet through the overseas direct investment route, which is its maiden foreign investment, according to a company statement. The company, however, did not disclose the financial details of the transaction. It acquired a majority interest in Freeland Foods LLC, the owner of the Go Raw brand, through one of the family office's operating entities, the statement said. Juggernaut Capital Partners, a middle-market private equity firm, and other early-stage investors sold their stakes, it added. "The desire for healthy eating is a growing global trend, and the US consumer is embracing the same. "Go Raw has a successful track record of robust growth and a growing retail footprint in the US," the family office's chief investment officer, Venkat Subramanian, said. PTI