Social venture capital firm Aavishkaar has forayed into Sri Lanka with an investment of Rs. 300 million in MA’s Foods.
The South and South-East Asia focused Aavishkaar Frontier Fund has agreed to invest in Sri Lanka’s premium food processing firm MA’s Foods, the company said in a release issued in India.
This investment will enable MA’s Foods to accelerate its new phase of growth, expand into the North of Sri Lanka and meet its strategic plan objectives.
MA’s Foods is the manufacturer of some of Sri Lanka’s popular brands, including MA’s Kitchen, Happy Home, Dad’s Garden and Pasta Roma.
“The Sri Lankan company has tremendous potential to scale up its business with its combination of excellent management team, established local brands, long-standing international relationships and significant backward linkages while staying true to its commitment to sustainability and fair trade,” Aavishkaar Partner Sanchayan Chakraborty said.
MA’s Foods markets a portfolio of organic, fair-trade and conventional gourmet meal solutions including spices, seasonings, curry pastes, sauces, ready-to-eat foods and coconut based products.