Aditya Birla Private Equity has invested in hospitality brand Olive Bar and Kitchen. This investment has been made out of Aditya Birla Private Equity – Sunrise Fund which provides growth capital to businesses. The private equity company has not officially announced the amount it has invested.
Sunrise Fund had announced its final close about a year ago at about Rs 300 crore. Aditya Birla Private Equity is part of the Aditya Birla Financial Services Group.
“Riding on the success story of the first decade, the company has geared up to expand the existing formats and recently launched two new formats i.e. gastro pubs and bistros. We intend to leverage our brand equity created over the years to expand the reach of existing formats and launch new formats, which are independently scalable models, while extending the brand values and experience of brand ‘Olive’ in order to expand our presence across formats and geographies,” said A. D. Singh, Managing Director, Olive Bar and Kitchen.
Chandir Gidwani, the promoter of Centrum Group, Manmohan Shetty of Adlabs Films and Walkwater Media are also existing investors in Olive.