Mark Carnegie invests in Modern Baking in consumer goods foray

 In Australia, International, NewZealand
Mark Carnegie’s private equity firm has taken a stake in baking minnow ­Modern Baking and is looking to raise $100 million for a new fund targeting more small fast-moving consumer goods businesses.
MH Carnegie investment director Mark De Ambrosis said the investment was the first of many to come and his team was hunting for similar opportunities in the area of fast-moving consumer goods (FMCG).
FMCG are products sold quickly and at relatively low prices such as processed foods, confectionery, soft drinks, toiletries or toys.
“We are currently looking at six or seven other businesses,” he said.
“It’s an under-invested space without a lot of institutional capital. There’s a huge number of small businesses in the space that don’t just need capital but need a partner.”  Sydney Morning Herald – Read more…

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