Quick service restaurant brand, Maroosh, owned by Impresa Hospitality, is entering into a series of franchisee deals to expand in domestic and global market.
The company signed a master franchise partnership with diversified hospitality and real estate group, Lalin & Co for the Sri Lanka market. It has signed similar deal with retail and licensing consultancy, Franchise India for setting up stores in Singapore and Hong Kong with. A tie-up has been inked with an Abu Dhabi-based company for merger-cum-expansion in mid-east markets.
Ketan Kadam, Managing Director and Chief Executive, Impresa Hospitality, said, “Expansion through franchisees is an ideal route for expansion in the existing market environment. The business model does not require capex, so we can focus on brand building.”
According to Impresa Hospitality , “For expansion in the domestic market, the company has signed a master franchise deal with Franchise India for setting up stores in the Delhi NCR region besides Bangalore, with the plan to set up over a hundred stores over a three-year period.”
The company also plans to foray in the ready-to-eat packaged foods segment.
Singapore-based private equity firm, L Catterton Asia is looking to buy a controlling stake in Indian restaurant chain operator, Impresario Entertainment and Hospitality Pvt. Ltd,
The valuation being considered for the company is around Rs 600 crore and the fund is believed to be currently doing a due diligence of the businesses.
A deal will include a primary infusion of capital to grow the company’s existing brands like Social and Smoke House Deli, as well as a secondary share sale that may see some existing investors reducing their stake or exiting entirely, sources said.
Though exact quantum of stake that will change hands is not yet final, it is likely to be as high as 60-75%.
In FY17, Impresario posted Rs 225-275 crore of revenue and Rs 25 crore of operating profit.
Impresa Hospitality Management, owned and managed by serial restaurateur Ketan Kadam, has raised second round of funding with a USD 1 million (INR 6.5 crore) from Trans Continental Venture Fund.
As part of the deal, TCVF's Jayendra Shah, who is partner at NA Shah Associates and also one of the founding directors, will join the board of IHMPL to take its business forward.
“Ketan is a seasoned restaurateur with a track record of having built several restaurant brands. He has created a strong launch-pad for his business through the use of technology and outsourcing of non-core operations, both of which are critical for any QSR to succeed,” shared Shah.
Known for its Lebanese QSR chain, Maroosh, Impresa has brands like DaVinci’s and Two One Two Bar & Grill.
Meanwhile, media entrepreneur turned investor Ronnie Screwvala’s Unilazer Ventures Ltd had acquired a 43.5 per cent equity stake in IHMPL for Rs 18 crore ($2.93 million), valuing the firm at RS 41.3 crore.
Trans Continental Venture Fund (TCVF) invests around USD 1 million per transaction, and is sector agnostic. Other investments include companies in technology and manufacturing.
Impresa will use the funds for Maroosh to take advantage of the rapidly growing opportunities in the food services industry.
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