Uday Kotak’s USK Capital acquires seed-based US snacking brand Go Raw

USK Capital, the family office of billionaire banker Uday Kotak, has announced the acquisition of Go Raw, a seed-based snacking brand in the United States.

Under the terms of the agreement, USK Capital acquired a majority interest in Freeland Foods LLC, the owner of the Go Raw brand, through one of the operating entities owned and controlled by the family office under the overseas direct investment route.

The sellers were Juggernaut Capital Partners, a middle-market private equity firm, and other early-stage investors.

USK Capital’s acquisition of Go Raw marks the family office’s first investment outside of India, first investment in the Consumer sector, and represents a strategic step in diversification. 

Commenting on the deal, Venkat Subramanian, the Chief Investment Officer at USK Capital, said, “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 better-for-you snacking brand based in the Chicago, IL area, founded on the principle of transforming mindless snacking into mindful snacking. Go Raw offers a range of premium, seed-based products including sprouted seeds, snacking granola, salad toppers, and cluster snacks. Its minimally processed, clean-labeled products are USDA-Certified Organic and Non-GMO Project Verified.

USK Capital is the family office of Uday Suresh Kotak, the founder and former CEO of Kotak Mahindra Bank Ltd., India’s third-largest private sector bank with a market capitalization of $47B USD. The Kotak family currently owns ~26% of the bank.