Comments
Leading food services company, Jubilant Foodworks Ltd (JFL) on Thursday said it is set to pick up a 10.76 per cent stake in Barbeque-Nation Hospitality Ltd (BNHL) for an investment of ₹92 crore.
“Towards this end, the company has entered into a Share Subscription Agreement to acquire equity shares and a Restated Shareholders’ Agreement to regulate the rights and obligations of BNHL’s key shareholders,” the company said in its BSE filing.
BNHL operates casual dining brand Barbeque Nation (BBQ) in the Indian cuisine space. As of November, the company runs 138 restaurants in 73 cities under the brand in the country.
The company, which introduced the concept of live grilling of kebabs to the Indian market, recently got a nod from SEBI to float an IPO to raise funds. It also runs seven international restaurants and has a presence in the Italian cuisine segment under the brand Toscano.
In a joint statement, Shyam S. Bhartia, Chairman and Hari S. Bhartia, Co-Chairman, Jubilant Foodworks Ltd said, “We are happy to announce our investment in Barbeque Nation - a differentiated, casual dining restaurant brand of scale with strong unit economics. We are confident that the proposed investment will create value for our shareholders.”
This investment comes when JFL has been expanding its presence in newer cuisine segments with the launch of new restaurant brands that include Hong’s Kitchen and more recently in the Indian cuisine segment of biryanis and kebabs with Ekdum!.
It has also recently forayed in the ready-to-cook range of sauces and gravies under the brand ChefBoss.
The company, which has exclusive rights to develop and operate Domino’s Pizza brand in India and other neighbouring countries, operates a network of 1,264 restaurants in 281 cities. It also operates 26 Dunkin’ Donuts restaurants in India (as of September 2020).
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.