Le Lavoir has acquired 51% equity stake in Shree Vrajendra Foods, a Rajkot-based manufacturer and trader of foodgrains, edible oils, and other food staples. The deal is structured as an all-equity transaction, with no cash outflow, wherein the promoters of Shree Vrajendra Foods will receive shares in Le Lavoir.
This is Le Lavoir’s second strategic acquisition in the staple foods segment, following its recent 64.5% acquisition of Ghantiram Foods, also based in Rajkot. These acquisitions form part of the company’s focused strategy to expand its portfolio and become a comprehensive service provider to the hospitality industry.
To support this expansion and other strategic initiatives, Le Lavoir plans to raise funds through a preferential allotment of equity share warrants being issued to select investors.
Le Lavoir (earlier Radhey Trade Holding) is into the business of Laundry Services catering to institutions such as Hotels.
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