USK Capital Acquires Majority Stake in US Healthy Snacking Brand Go Raw
USK Capital, Uday Kotak's family office, has acquired a majority stake in Chicago-based healthy snacking brand Go Raw on January 13, marking its first international investment and consumer sector entry. The acquisition was completed through overseas direct investment route, with sellers including Juggernaut Capital Partners and early-stage investors, though financial terms remain undisclosed. This strategic move aligns with USK Capital's diversification plan, targeting the growing US healthy eating market where Go Raw has demonstrated robust growth and expanding retail presence.
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USK Capital, the family office of Uday Kotak, has announced the acquisition of a majority stake in Go Raw, a Chicago-based seed-centric snacking brand, marking a significant milestone in its investment strategy. The transaction, completed on Tuesday, January 13, represents the family office's first investment outside India and its inaugural entry into the consumer sector.
Transaction Details
The acquisition was executed through one of USK Capital's overseas entities under the overseas direct investment route. The sellers in the transaction included Juggernaut Capital Partners, a middle-market private equity firm, along with other early-stage investors. However, the financial terms of the deal were not disclosed.
| Parameter: | Details |
|---|---|
| Acquisition Date: | January 13 |
| Investment Route: | Overseas Direct Investment |
| Sellers: | Juggernaut Capital Partners and early-stage investors |
| Geographic Significance: | First investment outside India |
| Sector Entry: | First consumer sector investment |
Strategic Rationale
The move forms part of USK Capital's strategic diversification plan as it expands its investment portfolio beyond traditional sectors. Venkat Subramanian, Chief Investment Officer at USK Capital, emphasized the growing global trend toward healthy eating and the US consumer's embrace of this movement. "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," Subramanian stated.
About Go Raw
Go Raw operates as a seed-centric snacking brand offering a diverse range of seed-based products. The company's product portfolio includes:
- Sprouted seeds
- Snacking granola
- Salad toppers
- Cluster snacks
The brand has established a successful track record of robust growth and maintains an expanding retail footprint across the United States market.
USK Capital Background
USK Capital serves as the family office of Uday Suresh Kotak, Founder and former CEO of Kotak Mahindra Bank Ltd, one of India's largest private sector banks with a market capitalisation of $47.00 billion. The Kotak family currently holds approximately 26% stake in the bank, providing substantial financial backing for the family office's investment activities.
Historical Stock Returns for Nitco
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.46% | -15.83% | -8.23% | -42.72% | -28.57% | +215.09% |
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