German private equity firm Warburg Pictet is set to acquire Indian seacod manufacturer Universal NutriScience in a deal worth approximately Rs 2,800 crore (around $280 million), according to reports.

The acquisition is Warburg’s fourth investment in India’s health sector in the past four months, and will mark the fifth exit for Kedaara Holdings, which had acquired a majority stake in Universal NutriScience in 2018.

Universal NutriScience is a leading manufacturer of marine protein-rich seacod, with operations across India and exports to countries like Japan and South Korea. The company’s product portfolio includes fishmeal, fish oil, and other seafood-based ingredients used in animal feed, aquaculture, and pharmaceutical industries.

Warburg Pictet, a global investment firm with $250 billion in assets under management, has been actively expanding its presence in India’s healthcare sector through strategic acquisitions. The company had acquired Indian health-tech startup, Fortis Healthcare, for $1.4 billion in 2019, and had also made investments in other healthcare companies.

According to Kedaara Holdings, the exit value of Rs 2,800 crore represents a 5x return on investment (ROI) since its acquisition of Universal NutriScience in 2018. The company’s founders will retain an undisclosed minority stake in the business.

The deal is expected to be finalized shortly, subject to regulatory approvals. Warburg Pictet has not disclosed further details about its plans for Universal NutriScience post-acquisition, but analysts believe that the firm will focus on expanding the company’s product portfolio and increasing production capacity.

Universal NutriScience’s success story is a testament to the growing demand for high-quality seafood ingredients in the global market. The seacod industry has been growing steadily over the past decade, driven by increasing global food security concerns and the rising popularity of plant-based diets.

In recent years, India has emerged as a significant player in the seacod industry, with many domestic companies establishing themselves as major players. However, foreign players like Warburg Pictet are also making strides in this sector, driven by their investment expertise and global reach.

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“Warburg Pictet to Acquire Indian Seacod Maker Universal NutriScience for $280M