MUMBAI, March 7, 2013 /PRNewswire/ --
Access India Fund Invests $11.5 Mn in World-class Diaper Manufacturing Company
Nobel Hygiene, India's first and only world-class baby and adult diaper manufacturer, has received the first tranche of funding boost to the tune of $11.5 Mn through Access India Fund and its co-investors.
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Nobel Hygiene Limited, headquartered in Mumbai, is a dominant market leader in the manufacture of adult diapers, a fast growth sunrise segment with growth rate of over 30% p.a. over the last 4 years in India. It also manufactures and markets baby diapers, a segment which has seen greater than 50% growth over the last 5 years.
Nobel's adult diapers are sold under the brand name 'Friends' and its baby diapers are sold under the brand name, 'Teddyy'. Kamal Kumar Johari, Managing Director, Nobel Hygiene Limited says, "Friends is now a 10-year-old brand and we are now well-recognised for the high quality of our products. Nobel Hygiene is the only Indian Company to have installed state-of-the-art European manufacturing lines. We continue to source our machinery and raw material from some of the best suppliers globally." The investment in Nobel Hygiene will be used to enhance as well as double its existing manufacturing capacity.
Achal Nath at Access India Fund says, "Diapers is one of the most interesting FMCG segments in India today. We expect to see significant sustained growth over the next 10 years given the low adoption rates and increasing disposable incomes. The adult diaper market in India, for example, is estimated at US$ 30 Mn as against the US$ 9 Bn global market (about 40% of the baby diapers market). The Chinese market even at US$ 300 Mn is still growing at 30% plus per annum. The Indian adult diaper segment has the potential to grow into a significantly large FMCG category with India having the second largest 65+ year's population in the world. Nobel's adult diaper brand is the only brand in its category with pan India distribution today." According to AC Nielsen, baby diapers were the fastest growth FMCG category in medium size Indian towns between May 2010 and May 2011 with 75% category growth.
Mastermind Financial Services Pvt. Ltd. acted as the advisor to the transaction.
About Nobel Hygiene Limited:
Nobel Hygiene, headquartered in Mumbai, was promoted by its first generation promoter, Kamal Kumar Johari, in 2000. After initially importing diapers and repacking the same in its plant at Goa, it set up a state-of-the-art manufacturing unit at Sinnar, Nashik in Maharashtra with the manufacturing of Baby diapers in 2010, followed by Adult Diapers in 2011 to become the first and only company in the country to manufacture both Baby & Adult Diapers. Today, Nobel Hygiene also manufactures Baby Diapers in private label for leading Modern Trade Chains like TESCO Star Bazar, METRO Cash & Carry, Max Hypermarket and Adult Diapers to various SMEs in India. The Company has established its Adult Diaper Brand- 'Friends' as the undisputed leader in its segment and is making rapid strides with 'Teddyy' brand of Nappy Pads and Baby Diapers.
About Access India Fund:
Access India Fund (www.accesspe.in) is a mid-market focussed fund focussing on growth investments in the $5 Mn - $15 Mn space, concentrating on consumer goods and services and life sciences segments. Promoted by Nilesh Mehta and Sangeeta Modi, Access had its first close in August 2012. This is Access' second investment to date. Access intends to focus on investments where the Investment team's experience and network can strengthen the growth and operations of the company.
Primary Media Contact: Kamal Johari, [email protected], 91-986-7366276
Secondary Media Contact: Rakesh Sinha, [email protected], 91-865-5223377
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