Desai & Diwanji advised the Bector Family and Motilal Oswal Private Equity on their Rs 450 crore ($67.5m) exit from Ludhiana based food and beverage company Mrs Bectors Food Specialities, after selling their minority stake in it. Private equity firms CX Partners, advised by Platinum Partners, and Gateway Partners, advised by AZB & Partners bought the stake. Shardul Amarchand Mangaldas advised Bectors Food.

D&D Delhi partner Rachna Jain and associates Nakul Batra and Rahul Chaddah advised the sellers on this, one of the largest packaged F&B sector private equity deals according to the firm’s press release.

Platinum Bengaluru partner Ankit Majmudar and associates Yamini Dwarakanath and Jagriti Mohata advised CX Partners.

AZB Delhi partner Sachin Mehta and Mumbai associate Vinit Nalavadi acted for Gateway Partners.

SAM Delhi partner Raghubir Menon, principal associate Gaurav Dayal and associate Aritra Roy acted for Bector Foods and its promoter Anoop Bector and his family members on the transaction.

CX and Gateway have reportedly invested Rs 450 crore in MBFSL for a 47 percent stake in the company reported Deal Street Asia.