<p><em><strong>By Anto Antony and Vinicy Chan</strong></em></p>.<p>Nestle SA, the world’s biggest food group, is among the final bidders competing to acquire India’s Capital Foods Pvt as it seeks to boost its presence in the fast-growing economy, people familiar with the matter said. </p>.<p>The Swiss company has been discussing terms of a potential deal for Mumbai-based Capital Foods, the people said, asking not to be identified because the information is private. Any transaction would likely value the Indian firm at more than $1 billion, according to the people. </p>.<p><strong>Read | <a href="https://www.deccanherald.com/business/nestle-to-examine-banking-relationships-following-credit-suisse-downfall-1204330.html" target="_blank">Nestle to examine banking relationships following Credit Suisse downfall</a></strong></p>.<p>Capital Foods makes the Ching’s Secret brand of spicy noodles and fusion chutneys infused with so-called “desi Chinese” flavours. It also sells Smith & Jones cooking pastes and masala mixes. </p>.<p>While talks on a potential deal are advanced, several other suitors have also expressed interest in buying Capital Foods and there’s no certainty Nestle will emerge as the winner, the people said. </p>.<p>Shares of Nestle’s listed Indian unit have gained 10% in Mumbai trading over the past 12 months, giving it a market value of about $22.3 billion. The firm started its first manufacturing facility in India in 1961 and sells everything from yoghurt to cereals in the country.</p>.<p>Investors in Capital Foods include General Atlantic, which bought a stake in the company in 2018.</p>.<p>A spokesperson for Nestle India declined to comment, while a Capital Foods representative didn’t respond to requests for comment. </p>
<p><em><strong>By Anto Antony and Vinicy Chan</strong></em></p>.<p>Nestle SA, the world’s biggest food group, is among the final bidders competing to acquire India’s Capital Foods Pvt as it seeks to boost its presence in the fast-growing economy, people familiar with the matter said. </p>.<p>The Swiss company has been discussing terms of a potential deal for Mumbai-based Capital Foods, the people said, asking not to be identified because the information is private. Any transaction would likely value the Indian firm at more than $1 billion, according to the people. </p>.<p><strong>Read | <a href="https://www.deccanherald.com/business/nestle-to-examine-banking-relationships-following-credit-suisse-downfall-1204330.html" target="_blank">Nestle to examine banking relationships following Credit Suisse downfall</a></strong></p>.<p>Capital Foods makes the Ching’s Secret brand of spicy noodles and fusion chutneys infused with so-called “desi Chinese” flavours. It also sells Smith & Jones cooking pastes and masala mixes. </p>.<p>While talks on a potential deal are advanced, several other suitors have also expressed interest in buying Capital Foods and there’s no certainty Nestle will emerge as the winner, the people said. </p>.<p>Shares of Nestle’s listed Indian unit have gained 10% in Mumbai trading over the past 12 months, giving it a market value of about $22.3 billion. The firm started its first manufacturing facility in India in 1961 and sells everything from yoghurt to cereals in the country.</p>.<p>Investors in Capital Foods include General Atlantic, which bought a stake in the company in 2018.</p>.<p>A spokesperson for Nestle India declined to comment, while a Capital Foods representative didn’t respond to requests for comment. </p>