French food multinational Danone announced its interest in increasing its stake in Epigamia, a health-focused Indian yogurt brand based in Maharashtra, to 60%. The proposed move would involve acquiring shares from Verlinvest, a Belgian private equity firm backed by the family behind AB-InBev. Danone Manifesto Ventures and Verlinvest currently own approximately 30% each of Epigamia. This strategic shift underscores the growing interest in India’s urban health and wellness market, with Epigamia valued at around ₹1,250 crore following investments from entities including Bollywood actress Deepika Padukone’s KA Enterprises.
French multinational Danone, a global leader in dairy and plant-based products, medical nutrition, and bottled water, is reportedly in talks to increase its ownership stake in Indian Greek yogurt brand Epigamia to 60%. The move would see Danone acquiring additional shares from Verlinvest, a Belgian private equity firm associated with the family behind the world’s largest brewer, AB-InBev.
Epigamia, headquartered in Maharashtra, India, was founded in 2013 and has become a prominent player in India’s health-conscious dairy sector. It offers over two dozen dairy products, including Greek yogurt, smoothies, and high-protein beverages. Currently, Danone Manifesto Ventures and Verlinvest each hold roughly 30% stakes in the company.
The discussions, still at an exploratory stage, indicate Verlinvest may either fully exit or reduce its stake depending on valuation outcomes. The proposed deal could draw competing bids from other health-focused investors due to heightened interest in India’s urban wellness market. Previously, Epigamia attracted the attention of FMCG players like Dabur and ITC, but no agreement was reached due to valuation gaps.
Following the recent passing of founder Rohan Mirchandani, cofounder Rahul Jain now serves as Epigamia’s CEO. With its estimated valuation at ₹1,250 crore (approx. USD 150 million), the brand has attracted top-tier investors, including KA Enterprises, owned by actress Deepika Padukone.
Danone’s potential majority stake aligns with its strategic interest in expanding health-focused product offerings in emerging markets. Epigamia’s innovative offerings, such as zero-sugar protein milkshakes, reinforce its competitive edge in India’s dynamic dairy landscape, where it rivals established brands like Nestlé, Amul, and Mother Dairy.
