date:Sep 24, 2012
Launched after the completion of five-year non-compete clause between Sadananda Maiya and MTR Foods, Maiyas Beverages And Food is all set to raise PE funds of around $20 Mn for expansion, according to BS.
In 2007, when MTR foods was bought by Norwegian Orkla intitiated by JP Morgan and Aquarius for a profitable exit, also came out with a non-compete clause for five years, which prohibited Maiya to enter the packaged food segement. The clause expired in April 2012.
Maiya Food which sells ready-