Piveta now owns majority stake in Riga Foods

Piveta Estates, being led by billionaire Analjit Singh, has acquired 51 percent stake in Riga Foods, a chain of Italian-cuisine restaurants in Delhi-NCR.

Billionaire Analjit Singh, also the founder of the Delhi-based diversified Max Group, which underwent a major organizational restructuring earlier this year, which saw the split of the firm into three separate companies subjected to different businesses – life insurance, health and allied businesses and manufacturing.

Founded by celebrity chef Ritu Dalmia and Gita Bhalla in 2000, apart from a chain of Italian- cuisine restaurants, Riga Foods runs a catering service, also known as 'Diva'.

According to reports of The Economic Times, Piveta has owned a majority stake, which is why Riga's founders will retain management control.

Delhi-based Piveta Estates provides services including facilities management, brokerage and lease management, thus Riga Foods will use the funds mainly to expand its operations across the country. Other than expanding in the country, the company is also eyeing opportunities to expand in the international market such as South Africa and the UK.