Sanjay Purohit, Managing Director, Levi Strauss is set to join India-focused private equity fund Samara Capital as partner - consumer and retail practice, reported ET.
Purohit, who headed Levi Strauss over the past six years, will join Samara Capital in July. Samara's invested companies include Flemingo Duty Free, Monte Carlo Fashions, Guardian GNC, Paradise Foods, and Sapphire Foods.
Samara Capital founder and managing director Sumeet Narang confirmed about the development. Purohit has been named chief executive of Sapphire Foods -- the entity set up by Samara Capital last year to acquire and lead the Yum Restaurants business in India.
"Consumer retail will be a very strong focus area for us, which Sanjay will lead. Going forward, we could explore getting in other food services brands and new acquisitions under Sapphire Foods," Narang said.
Last year mid, Samara Capital had bought out 300 KFC and Pizza Hut stores in India and Sri Lanka from diversified franchisees and consolidated them under Sapphire Foods. Sapphire Foods is owned by a consortium of four private equity funds led by Samara Capital.
Purohit will also be board member of Paradise Foods. Purohit has done nearly three decades across the consumer goods and retail space. Before Levi Strauss, he was associated with chocolate maker Cadbury, Mobil Gas and Asian Paints.
