Westbridge pours ₹637 cr into KPN Farm

Private equity firm Westbridge Capital invested over₹600 crore ($70-80 million) in KPN Farm Fresh in a fresh round, two years after acquiring a majority stake in the Tamil Nadu-based fruits and vegetable retail chain, two people in the know said.

- PriyamvadaC

KPN, which stands for Kovai Pazhamudhir Nilayam, will utilize the funds to accelerate expansion, enhance its omnichannel strategy, widen retail footprint, and deepen its presence in existing markets, they said, seeking anonymity.

Incorporated in 2011, the company primarily engages in retail sales of fruits and vegetables, with its products mainly sold via departmental stores.

Westbridge co-founder Sandeep Singhal, as trustee of Konark Trust, alongside entities such as Mountain Managers Pvt. Ltd (as Trustees of MMPL Trust) and Setu AFI Trust, cumulatively bought 37,34,272 shares worth ₹637 crore in KPN, according to documents

Westbridge's follow-on round comes as the private equity firm bets on India's growing consumer sector.