Private equity fund Lighthouse Funds has invested Rs 700 crore in Parsons Nutritionals, a contract manufacturer which makes cookies, chocolates, ready-drink mixes and other products. This is Lighthouse's third investment from its private equity fund, Lighthouse India Fund IV.

The investment saw participation from International Finance Corporation (IFC), Evolvence India and HDFC AMC's Fund of Funds.

The investment is in line with the concept of consumer products getting more organised, and premium. The funding will enable the company to expand its manufacturing capacities in existing and newer product categories. The Rainmaker Group acted as financial advisor on the deal. 

The contract manufacturing firm recently forayed into manufacturing personal care categories such as shampoos, and has production  facilities across five states. The funding would enhance long-term value for all stakeholders, and move towards enhancing its capabilities and replicating the partnership with more premier brands.