Coffee Day to double its coffee shops

Coffee Day Resorts Pvt. Ltd, which operates the Cafe Coffee Day retail chain, will use a recent investment of Rs 960 crore in the firm to at least double its coffee shops to 2,000 and increase the network of its Way2Wealth venture.

Three private equity investors—Kohlberg Kravis Roberts India Advisors Pvt. Ltd (KKR India), Standard Chartered Private Equity Ltd and New Silk Route agreed to invest Rs 960 crore to buy a nearly 25 per cent stake in the company, which also owns a private equity fund Global Technology Ventures, three resorts in southern India under the Serai brand and Terra Firma Pvt. Ltd, a waste management business. The chain of 1,000 outlets is entirely owned and managed by the company.