Café Coffee Day to get PE funds
A clutch of private equity firms led by storied investor Kohlberg Kravis Roberts (KKR) is in the final stages of investing around Rs 1,000 crore (over $200 million) in India’s Cafe Coffee Day chain
March 18, 2010 | comments ( 0 ) |
A clutch of private equity firms led by storied investor Kohlberg Kravis Roberts (KKR) is in the final stages of investing around Rs 1,000 crore (over $200 million) in India’s Cafe Coffee Day chain. It is learnt that KKR would invest about $100 million in the Bangalore-based company. The cash infusion will help the Indian company, which now has 800 Café Coffee Day outlets expand ahead of potential competition from Starbucks, the US-based coffee group, which has been eyeing India for more than five years, but has yet to enter the market.
Café Coffee Day also has about 700 coffee kiosks at airports, train stations and hospitals, as well as thousands of coffee vending machines in offices. In south India - which has a local tradition of coffee consumption, Coffee Day Holdings operates a chain of about 400 Fresh 'n Ground retail stores, which sell filter coffee blends and accessories.
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