USA: USK Capital acquires majority stake in Go Raw

USK Capital, the family office of Indian billionaire banker Uday Kotak, has acquired a majority stake in Go Raw, a US-based manufacturer of seed-centric snacks.

The transaction, executed through an overseas entity, marks USK Capital’s first international investment and its debut in the consumer goods sector. The stake was acquired from Juggernaut Capital Partners, a Washington-based private equity firm, and other early-stage investors for an undisclosed sum. Go Raw, which operates under the holding company Freeland Foods LLC, is a Chicago-based brand specialising in minimally processed, organic and plant-based snacks including sprouted seeds, granola, salad toppers and cluster snacks.

Venkat Subramanian, chief investment officer at USK Capital, commented: “The desire for healthy eating is a growing global trend, and the US consumer is embracing the same. Go Raw has a successful track record of robust growth and a growing retail footprint in the US”.

During Juggernaut Capital Partners’ ownership since 2017, Go Raw reportedly more than doubled its revenue, with annual sales estimated between $10 million and $25 million. The brand’s distribution spans major US retail channels, including Whole Foods Market, Walmart and Target, as well as e-commerce platforms.

USK Capital was established in 2024 following Uday Kotak’s departure as CEO of Kotak Mahindra Bank, an Indian private sector lender with a market capitalisation of approximately $47 billion.

Source: Juggernaut Capital Partners / Economic Times / Moneylife