A91 Partners to invest Rs 175 Cr in Coimbatore-based Shree Anandhaas Sweets

Private equity firm A91 Partners is close to investing ₹175 crore (around $20 million) in Shree Anandhaas Sweets, a sweets and snacks chain based in Coimbatore, a source said. 

This will be the company’s first time raising funds from an institutional investor. Started in 1998 as a restaurant, Shree Anandhaas moved into the sweets and snacks business in 2017 and now runs 19 stores across Tamil Nadu.

Shree Anandhaas will join A91 Partners' portfolio alongside brands like Akshaykalpa, Blue Tokai, Happilo, Paper boat and Pushp Spices. 

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The family-run business plans to use the new funds to expand into Chennai, other parts of Tamil Nadu and nearby states such as Kerala and Andhra Pradesh.

While the exact valuation wasn’t disclosed, reports indicate that fresh-food brands typically attract valuations around 4 times their revenue. This could place Shree Anandhaas’ value in the range of Rs 1,000–1,200 crore.

The company reportedly earned Rs 290 crore in revenue in FY25, has an estimated EBITDA margin of 10% and, like many family-run businesses, is already profitable.

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A91 Partners’ investment in Shree Anandhaas follows Motilal Oswal’s (MO Alts) recent backing of Lal Sweets, reflecting growing investor interest in India’s large but largely unorganised sweets and snacks sector. 

As consumer buying habits evolve, the industry is gradually becoming more structured, attracting institutional capital.