Milkshake brand Keventers onboard Jubilant as a minority partner

Keventers, the iconic milkshake, and ice cream brand, has announced an equity investment from a privately held company of the Jubilant Bhartia Group, in Super Milk Products Private Limited (SMPPL), which operates the brand globally.

Jubilant has been inducted as a minority partner in SMPPL.

Tracing its roots back to 1925, Keventers is best known for providing its milkshakes and beverages in glass bottles, which have also become collectibles among its diverse consumer base.

The company also recently launched its gourmet ice cream range under the brand “Keventers Ice Cream”, which reflects a step forward towards diversifying its dessert portfolio.

SMPPL will deploy the fresh capital primarily towards the opening of new stores and expanding its footprint pan India and globally, while also foraying into alternate channels such as D2C, FMCG, and cloud kitchens.

The investment is expected to help accelerate the brand’s plan to open over 300 stores in the next 3-4 years with the additional aim to grow the ice cream business which has shown tremendous growth since the pandemic.

The transaction is subject to fulfillment of closing conditions by both parties.

KPMG acted as the exclusive financial advisor to SMPPL on this transaction.