Ananta Capital Acquires Majority Stake In Mattress Maker Springwel
Ananta Capital, a sector-agnostic investment management platform, has acquired a majority stake in Springwel Mattresses, a mattress and sleep solutions brand.
The mattress and sleep solutions brand will use the capital for EBOs and distribution expansion, ramp-up of online channels of sale, the launch of new innovative products, and technology upgradation.
Springwel Mattresses | Delivering Comfortable Sleep
Springwel, which runs over 75 exclusive brand outlets, is engaged in manufacturing and selling mattresses, home furnishing products and industrial foam in India.
With a pan-India network of over 1,000 dealers and distributors, the company has a diverse product portfolio that includes memory foam, orthopaedic rebonded foam, latex, spring & foam mattresses. As per the mattress and sleep solutions brand, it is on course to generate Rs 300 crore revenue in the fiscal year 2022-23.
Speaking about the development, Ramprakash Marwah and Paramjeet Singh Chhabra, two founding members of Springwel,
“After having built and grown Springwel over the last 25 years, we wanted to partner with like-minded investors who are not just good operators of businesses but can also someone we can have a long-term partnership with.”
Ananta Capital | Investment Management Platform
Ananta Capital is a private equity platform backed by the Mumbai-based Taparia family of Famy Care Group. This is the second transaction by Ananta Capital this week. On June 28, Ananta Capital invested in Open Secret, a Mumbai-based health snack D2C startup.
Bella Vita Organic, Pickrr, and StoveKraft are a few of Ananta Capital’s portfolio companies.
Speaking about the development, Sanjeev and Ashutosh Taparia, part of the Taparia family and managing partners at Ananta Capital, said,
“Our strategy is to double down on the personal care and home improvement space of India and use digital channel as the common thread of hyper-growth for all these businesses. We are looking at some more acquisitions in these categories and building all our consumer brands businesses as part of a single balance sheet to drive maximum synergies among them.”
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