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Kolkata-based Dhunseri Ventures Ltd, owned and promoted by the Dhanukas, has decided to exit its restaurant business.
The company will divest its entire shareholding of 25 per cent in Tastetaria Foods Private Ltd to joint venture partner, Choicest Enterprises Ltd for ₹72,500 or at 0.01 paise per equity share.
The sale was completed on March 8.
Dhunseri Ventures Limited (formerly Dhunseri Petrochem) entered into a joint venture with Choicest Enterprises Ltd, a company under Ambuja Neotia Group, and Tastetaria Foods Private Limited to carry on the business of “setting up and operating restaurants for making and selling UNO brand of Chicago deep-dish pizzas”, under exclusive master franchisee agreement with Pizzeria Uno Corporation.
In a stock market notification, Dhunseri Ventures said, “it has divested the entire shareholding in Tastetaria Foods Private Limited in favour of its existing JV partner Choicest Enterprises Limited of Ambuja Neotia Group. Consequent to the above, Tastetaria Foods Private Limited has ceased to be the company’s joint venture company.”
Dhunseri Ventures in the notification further said, as on March 31, 2020, the unit had a loss of over ₹2.67 crore that was considered for consolidation.
“The buyer Choicest Enterprises Ltd does not belong to promoter or promoter group of Dhunseri Ventures,” the notification further said.
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