Private equity firm A91 Partners is reportedly set to invest INR 175 crore (about $20 million) in Shree Anandhaas Sweets, a Coimbatore-based sweets and snacks chain, according to a source.
This will be the first time Shree Anandhaas is raising funds from an institutional investor.
The company began as a restaurant in 1998 and entered the sweets and snacks market in 2017. It now operates 19 stores across Tamil Nadu.
Shree Anandhaas will become part of A91 Partners’ portfolio, which already includes well-known brands like Akshaykalpa, Blue Tokai, Happilo, Paper Boat, and Pushp Spices.
The family-owned business plans to use the new funding to expand into Chennai, other parts of Tamil Nadu, and nearby states like Kerala and Andhra Pradesh.
Although the exact value of the deal hasn’t been shared, reports suggest that fresh-food brands are usually valued at about 4 times their revenue. Based on this, Shree Anandhaas could be worth between INR 1,000 and INR 1,200 crore.
The company earned around INR 290 crore in revenue in FY25, has an estimated 10% profit margin (EBITDA), and is already profitable — like many family-run businesses.
A91 Partners’ investment in Shree Anandhaas comes shortly after Motilal Oswal (MO Alts) invested in Lal Sweets. This shows that investors are becoming more interested in India’s large but mostly unorganised sweets and snacks market.
As consumer habits change, this industry is becoming more structured, making it more attractive to big investors.
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