?Jayaram Banan regains control of Sagar Ratna

Jayaram Banan, founder of home-grown restaurant chain, Sagar Ratna has regained control of the restaurant chain by buying out stake held by private equity firm, India Equity Partners (IEO) for an undisclosed amount.

As the number of vegans is increasing around the world, the group plans to expand its presence overseas by opening Sagar Ratna stores abroad starting with the US, the UK and Canada.

Roshan Banan, MD, Ocean Pearl Hotels, Said, "We will foray overseas through the franchisee model."

Currently, the group operates around 90 Sagar Ratna stores. It plans to triple the number in three years through a mix of company-owned stores and franchisee-led ones.