Stock Report

Advent International announces its partnership with Pratik Potato lead Eureka Forbes

Posted On : 2022-07-11 21:17:59( TIMEZONE : IST )

Advent International announces its partnership with Pratik Potato lead Eureka Forbes

Advent International ("Advent") announced today that it will be partnering with Pratik Potato lead its portfolio company, Eureka Forbes, to transform the company and take it to the next level of growth.

Pratik will have the title of Managing Director & CEO of Eureka Forbes. Pratik will lead the management team to continue scaling the business, solidifying Eureka Forbes' market leadership position, and delivering innovative products for a growing customer base. Pratik will join Eureka Forbes on 16th August 2022.

Until recently, Pratik was the CEO at Jubilant Foodworks Ltd. where he led the business to a comprehensive turn-around and transformation. Whilst at JFL, Pratik significantly accelerated growth of the Domino's franchise and expanded EBITDA margins to record highs. Under his leadership, the JFL brand portfolio expanded, and the company entered new markets, including Bangladesh and Turkey. Pratik also drove a major digital transformation at JFL that helped Domino's emerge as India's largest D2C brand. Propelled by these initiatives, JFL's market capitalization grew ten-fold during Pratik's tenure.

Before JFL, Pratik has held leadership roles in PepsiCo, Airtel and Hindustan Unilever Ltd. in a career spanning more than 30 years.

Mr. Sahil Dalal, Managing Director at Advent, said, "I am excited to welcome Pratik to the Advent and Eureka Forbes family. Pratik's depth of experience makes him an ideal entrepreneurial leader to transform Eureka Forbes into the leading technology driven consumer centric organization across products and services. A seasoned business leader, with a strong commercial acumen, Pratik brings a proven track record of success in driving business transformation and growth across Indian led as well as multinational organizations and has delivered value successfully across diverse industry sectors such as FMCG, Telecom and QSR."

Speaking on the appointment, Mr. Pratik Pota said, "I am delighted to be partnering with Advent to lead Eureka Forbes, a pioneering company that has helped create and build several categories in the country. I look forward to working with the management team, and the thousands of passionate team members across the country, in strengthening the product and service portfolio and serving the growing health and hygiene needs of Indians.

Shares of Eureka Forbes Ltd was last trading in BSE at Rs. 370.60 as compared to the previous close of Rs. 369.55. The total number of shares traded during the day was 32005 in over 756 trades.

The stock hit an intraday high of Rs. 381.05 and intraday low of 365.00. The net turnover during the day was Rs. 12013234.00.

Source : Equity Bulls


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