Ambit Pragma Acquires 74 Percent Stake in Mumbai-based Frozen Food Logistics Firm (Asia)

Source: VCCircle  |  Author: Bhawna Gupta

India-based private equity firm Ambit Pragma has purchased a 74 percent stake in Mehta Frozen Foods Carrier, a subsidiary of India’s MRL Group that specializes in the transportation of perishable frozen food products. The investment was made through Ambit Pragma Fund II, which held a first close at US$77 million in May 2012. The fund is targeting total commitments of US$150 million.