Uday Kotak family office USK Capital acquires majority stake in US healthy-snacking brand Go Raw

USK Capital, the family office of Uday Kotak, said on Tuesday, January 13, it has acquired a majority stake in Go Raw, a Chicago-based seed-centric snacking brand in the United States, according to a press release issued by the company.

The acquisition, executed through one of USK Capital’s overseas entities under the overseas direct investment route, is the family office’s first investment outside India and its entry into the consumer sector.

According to the press release, the sellers in the transaction

included Juggernaut Capital Partners, a middle-market private equity firm, along with other early-stage investors. Financial terms were not disclosed.

The move is part of USK Capital’s strategic diversification plan, stated the company. Venkat Subramanian, Chief Investment Officer at USK Capital, said in the release, “The desire for healthy eating is a growing global trend, and the US consumer is embracing the same. Go Raw has a successful track record of robust growth and a growing retail footprint in the US.”

Go Raw is a seed-centric snacking brand with a range of seed-based products, including sprouted seeds, snacking granola, salad toppers, and cluster snacks.

USK Capital is the family office of Uday Suresh Kotak, Founder and former CEO of Kotak Mahindra Bank Ltd, India's one of the largest private sector bank, with a market capitalisation of $47 billion. According to the press release, the Kotak family currently holds around 26% of the bank.