Food company Capital Foods has announced the elevation of Navin Tewari to the position of Managing Director and Chief Executive Officer with effect from January 1, 2021.
He succeeds founder Ajay Gupta, who will now be the Non-Executive Chairman. Tewari joined the company in early 2019 as the Chief Executive Officer. Under his leadership, the company has achieved top-line growth in excess of 50%; expansion beyond the western region to a pan-India presence across categories; and enhanced production capacity with increased footprint in Karnataka, Haryana and Himachal Pradesh. Capital Foods is backed by marquee private equity firms, The Invus Group and General Atlantic.
Shantanu Rastogi, Managing Director, India and Southeast Asia at General Atlantic, said, “Capital Foods has registered impressive performance under Navin’s leadership as CEO. His ability to drive growth is not limited to exceptional financial performance, but also extends to organisation building in areas of capacity expansion, market strategy, product offerings, and people management. The company is at an inflection point of growth and we are very excited to have Navin lead the company in his new capacity as the MD, to continue Capital Food’s journey of growth and innovation.”
Francis Cukierman, Managing Director, Private Equity, Asian Emerging Markets at The Invus Group, said, “Navin’s expertise of leading multicultural Indian businesses gives him an edge to cultivate and maintain a healthy culture in the organisation. His focus on building and strengthening relationships across consumers, distribution partners, retailers, and employees creates a pathway for future growth. We are certain that Navin will continue to drive great performance at Capital Foods’ and build on the foundation that Ajay Gupta has paved, to take Capital Foods to greater heights.”
Gupta, the Non-Executive Chairman of the company said, “Navin personifies our biggest differentiator – experimentation and disruption. The company is an outcome of disruptive thinking and this approach has positioned us as a memorable brand in the ever-evolving food industry. Since his joining Navin has rapidly built and grown the scale of the company while preserving the culture and strengthening partner relationships. I am certain that going forward Capital Foods will flourish under his leadership and contagious enthusiasm.”
Assuming the new responsibilities, Tewari said, “Capital Foods was created on the foundations of innovation, excitement, and a deep understanding of consumer taste preferences. Over the years, we have built a loyal consumer base that loves our range of exciting food products. We have further propelled our unique positioning by investing in the right partnerships and growing our brand presence. With increasing global exposure, aspirational and upwardly mobile lifestyles, and multicultural family set-ups, Indians are progressively becoming keener to explore various cuisines and experiment with their food. This augurs well for Capital Foods as we are committed to bringing excitement to every meal 24Xp7X365. Going forward, we are highly optimistic of further surpassing all industry benchmarks and continuing to delight our customers, employees, partners, and investors alike.”
Capital Foods is the parent company of Ching’s Secret and Smith & Jones with several food products across categories like frozen food, ready-to-eat, instant snacking, cook ups, and spices and condiments.