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Nobel Hygiene Ltd. Receives Funding

Equity firm invests $10 million in Indian diaper maker

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By: Karen McIntyre

Editor, Nonwovens Industry

Aria Investment Partners IV has invested $10 million in Nobel Hygiene Ltd., one of India’s first and leading manufacturers of adult and baby diapers. Based in Mumbai, NHL began operation in 2000 and was the first company to introduce adult diapers in the Indian market. Today, the company is a market leader in adult incontinence with its Friends brand and is an up-and-comer in baby diapers with the Teddy brand.

“We are delighted to receive the investment from Aria IV. The Aria funds are one of the region’s most experienced private equity investors,” says president and owner of NHL Kamal Johari.

Aria has been investing in consumer goods companies in India and the region for about a decade.

“Changing lifestyles, evolving social habits and favorable demographics structure, coupled with low diaper penetration, has resulted in diapers being one of the fastest growing FMCG categories in India.” says Miranda Tang, managing director of the Aria funds. “The Aria team’s aim is to assist NHL to scale its operation, enhance its brand and prepare it to capture the exponential growth potential in this space.”

NHL also operates a sizable private label business domestically in India as well as in foreign markets including Australia, Malaysia, UAE and parts of Africa.

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