MAM
Dabur acquires majority stake in Badshah Masala
Mumbai: Dabur India has announced that it has signed definitive transaction agreements to acquire 51 per cent shareholding of Badshah Masala,which is engaged in the business of manufacturing, marketing and export of ground spices, blended spices and seasonings.
This acquisition is in line with Dabur’s strategic intent to expand its foods business to Rs 500 crore in three years and expand into new adjacent categories. This also marks Dabur’s entry into the over Rs 25K crore branded spices and seasoning market in India.
Dabur has acquired 51 per cent stake in Badshah for Rs 587.52 crore, less proportionate debt as on the closing date, with Badshah being valued at Rs 1,152 crore. This translates to a revenue multiple of around 4.5x and EBIDTA multiple of around 19.6x of FY’ 22-23 estimated financials.
Announcing the acquisition, Dabur India chairman Mohit Burman said, “The Indian spices and seasoning category is a large and attractive market. Badshah Masala is one of the key players in this space. Our investment in Badshah Masala will help expand this business and continue to provide unmatched quality products. This acquisition will accelerate our growth strategy as we continue to build our Foods business. We intend to leverage our international market presence to grow this business globally.”
“The transaction is expected to be Cash EPS neutral in the first year and accretive thereafter. The acquisition is expected to be completed within this fiscal. As per our agreement, we will acquire the balance 49% shareholding after 5 years,” Dabur India group director P. D. Narang said.
Dabur India CEO Mohit Malhotra said, “Branded Spices market in India is growing at healthy double digits, led by increasing consumption, upgradation from unbranded to branded and growing preference for regional flavours across states. The market is dominated by regional players and holds significant potential for growth in the future. Dabur has an existing Foods portfolio and views ground and blended spices as a good addition to this portfolio. Badshah portfolio will gain from Dabur’s extensive distribution reach. We look forward to unlocking further synergies and market opportunities to capture the full potential of Badshah Masala.”
Badshah Masala Private Limited Managing Director Mr. Hemant Jhaveri said, “We are delighted to enter into a strategic partnership with Dabur. Dabur stands for Trust and Heritage and joining hands with Dabur will help drive the future growth potential of Badshah on a stronger trajectory. Our companies are a great fit. This transaction will enable us to accelerate our growth by adding our products to Dabur’s broad portfolio to meet the needs of consumers across geographies.”
Ajay Shah, advisor to Badshah Masala said, “This strategic investment of Dabur brings together two strong Indian brands. This deal is growth oriented, mutually complementary, value accretive and beneficial for both the companies.”
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Tech Mahindra names Jeetu Anandani VP & country head – enterprise & strategic accounts
Veteran tech leader to drive enterprise growth across Australia and New Zealand
MELBOURNE: Jeetu Anandani has stepped into a larger leadership role at Tech Mahindra, taking charge as vice president and country head for enterprise and strategic growth across Australia and New Zealand.
Based in Melbourne, Anandani will steer the company’s enterprise portfolio in the ANZ region, focusing on expanding business across high-growth sectors such as retail, energy and utilities, health insurance and logistics. The move signals Tech Mahindra’s intent to deepen its presence in one of the world’s most competitive enterprise technology markets.
In his new role, Anandani will lead growth initiatives, build strategic partnerships and strengthen relationships with key stakeholders across industries. His mandate also includes accelerating business development efforts in sectors such as manufacturing, travel and logistics while helping clients navigate digital transformation and AI-led change.
The promotion caps a steady rise within Tech Mahindra. Anandani most recently served as communications, media and entertainment head for BPS across the Asia Pacific and Japan region, where he worked on expanding enterprise deals and strategic partnerships. Before that, he held the role of account director, managing key client relationships and delivery programmes.
Prior to joining Tech Mahindra in 2020, Anandani spent nearly eight years at Telstra as country manager in Mumbai, overseeing operational growth and partnerships. His earlier career includes leadership stints at Tata Consultancy Services, Vodafone and JPMorgan Chase.
With more than two decades of experience across telecom, banking and IT services, Anandani now takes the helm of Tech Mahindra’s enterprise push in ANZ, a region where demand for AI, digital transformation and large-scale technology partnerships continues to gather pace.
