MUMBAI:
Domino’s Pizza
India franchisee
Jubilant FoodWorks
will acquire a 10.76% stake in
Barbeque Nation Hospitality
, which runs casual dining restaurants under the eponymous name, for Rs 92 crore.
Barbeque Nation, which introduced the concept of live grilling at the table to the Indian market, operates more than 135 outlets in the country.
The 14-year-old company reported a revenue of Rs 743 crore in fiscal 2019. It also runs an Italian cuisine-themed restaurant Toscano.
Jubilant’s move comes as in-restaurant dining limps back to life following ease in Covid-19 lockdown restrictions in the country and even as the takeaway remains strong.
The
Barbeque Nation
investment is expected to be completed by next month. “We’re happy to announce our investment in Barbeque Nation — a differentiated, casual dining restaurant brand of scale with strong unit economics,” said Shyam S Bhartia and Hari S Bhartia, chairman and co-chairman of Jubilant FoodWorks.
The share-sale in Barbeque Nation will help the company pare its over Rs 200 crore debt and comes amid its IPO moves. Recently, India’s capital market regulator Sebi approved the company’s IPO proposal through which it plans to raise as much as Rs 1,200 crore. Sayaji Hotels, private equity firm CX Partners and stock market investor Rakesh Jhunjhunwala are the shareholders of Barbeque Nation.
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Reeba Zachariah is assistant corporate editor at The Times of Ind...
Read MoreReeba Zachariah is assistant corporate editor at The Times of India, Mumbai. She has been covering large Indian business houses such as the Tata Group. She also reports on a host of sectors like hospitality, retail, travel, liquor and consumer durables. She has been writing on mergers and acquisitions and private equity.
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