Waycool Foods acquires supply chain business of Farm Taaza

The Competition Commission of India (CCI) has granted approval for the acquisition of a stake in Rebel Foods by Jongsong Investments, a wholly owned subsidiary of Temasek.

According to a statement from CCI, the proposal involves Jongsong subscribing to compulsorily convertible preference shares and acquiring equity shares in the cloud kitchen unicorn, Rebel Foods. The regulatory body stated, *“CCI approves the proposed acquisition of shares in Rebel Foods Private Limited by Jongsong Investments Pte. Ltd.”*  

Earlier reports indicated that Temasek was planning a significant stake acquisition in Rebel Foods through a combination of primary equity infusion and secondary share purchases. Rebel Foods is also reportedly considering a public listing within the next 12-18 months.  

As part of this development, early investors such as Coatue Management, Lightbox, and Peak XV Partners are expected to sell part of their combined 20-25 percent stake. This transaction, estimated at $180-200 million, will enable Jongsong Investments to become Rebel Foods' largest shareholder. Currently, the startup's founders hold a 12 percent stake, while Qatar Investment Authority owns approximately 10 percent.  

Founded in 2011 by Kallol Banerjee and Jaydeep Barman, Rebel Foods operates several quick-service restaurant (QSR) brands, including Behrouz Biryani, Ovenstory Pizza, The Good Bowl, SLAY Coffee, and Wendy’s. The company generates revenue through food sales via its cloud kitchens and third-party platforms, along with delivery fees and royalties from partnerships.  

Rebel Foods reported a 42 percent reduction in net losses in FY24, bringing it down to Rs 378.2 crore from Rs 656.5 crore in FY23. This improvement was attributed to an increase in operating revenue, which rose by 19 percent to Rs 1,420.2 crore in FY24 compared to Rs 1,195.2 crore in FY23.  

This transaction aligns with a broader trend in the Indian startup ecosystem, where late-stage companies are facilitating secondary share sales ahead of their IPOs. Startups like Urban Company, Acko, and Lenskart have also witnessed similar transactions, providing partial exits for early investors.

Swiggy Ltd. has taken ownership of Team Mumbai in the World Pickleball League (WPBL), India's first official global franchise-based pickleball league. Co-founded by former Indian tennis players Gaurav Natekar and Arati Ponnappa Natekar, the inaugural season of the WPBL is scheduled to run from January 24 to February 2, 2025.

Pickleball, one of the fastest-growing sports worldwide, is gaining popularity due to its accessibility for players of all ages. With its rapid rise as a recreational and lifestyle activity, pickleball is expected to see significant growth in India over the next decade. Swiggy's Team Mumbai is the second franchise announced by the WPBL, following the Chennai franchise owned by actor Samantha Ruth Prabhu. The first edition of the league will take place in Mumbai, giving Swiggy's team a chance to compete in front of their home crowd.

As a leading brand in India, Swiggy has built a strong connection with its customers through its diverse range of services, including food delivery, quick commerce, and dining experiences. By joining the World Pickleball League, Swiggy is aligning itself with a rapidly growing recreational trend, fostering community engagement, and offering a fresh way to connect with consumers.

Rohit Kapoor, CEO of Swiggy Food Marketplace said, "When we started discussing pickleball internally and our association with it, my joke was achar bina khaana kya! Look, it's a fun, easy game to play for most people. And I can see food stalls, a happy game, and the whole family there for a great weekend. We fit right into this scenario and deliver joy to folks, as per usual. This partnership with WPBL and Mumbai is Swiggy being part of what makes the city and indeed the world go round. Which is our way.”

Gaurav Natekar, Co-Founder and CEO of WPBL, shared, “We strongly believe that the World Pickleball League can become one of India’s best and most popular leagues in the next 3-5 years. Brands like Swiggy coming onboard as Team Owners for the World Pickleball League is a true testament to how the sport and the league is vibing with the masses. As one of India’s most-loved companies, Swiggy will add to the overall excitement and help us reach an even larger audience—not just for the league, but for the sport of Pickleball as well."

As the season approaches, fans can expect an exciting series of matches, with six teams competing for victory. The WPBL seeks to offer a unique lifestyle experience, aiming to unite people through their shared enthusiasm for pickleball.

Agro Tech Foods Limited (ATFL), a key player in India’s food and edible oils market known for brands like ACT II popcorn and Sundrop, has announced its acquisition of Del Monte Foods Private Limited (DMFPL), pending approvals. This transaction strengthens ATFL’s presence in the retail sector across India, allowing it to diversify and expand its product offerings under the potential new name, Sundrop Brands.

DMFPL, previously a joint venture with Bharti (59.29 percent) and DMPL India Limited (40.71 percent), will transfer ownership, making Bharti and DMPL public shareholders in ATFL. Additionally, ATFL will gain a perpetual license to the Del Monte brand for India, reinforcing its long-term position in the market.

The acquisition includes Del Monte’s extensive product lineup, including Italian products, sauces, ketchup, dips, spreads, and beverages. These additions align with ATFL’s focus on quality food solutions, allowing it to serve a broader customer base across traditional retail, modern retail, quick-service restaurants, and food services.

ATFL also acquires Del Monte’s manufacturing and R&D facilities in Hosur, Tamil Nadu, and Ludhiana, Punjab. These facilities, known for innovation and quality, will support ATFL’s expansion and the development of new products tailored to Indian consumers.

With this acquisition, ATFL has appointed Nitish Bajaj as Group Managing Director. Bajaj, with over 28 years of experience in consumer goods, has held previous roles as CEO of Piramal's Consumer Products Division and SVP of Marketing at CEAT Tyres.

Asheesh Kumar Sharma, CEO and Executive Director of ATFL said, “We are thrilled to welcome Del Monte Foods into the Sundrop Brands family. This partnership aligns perfectly with our enhanced vision of bringing joyful food experiences to the modern consumer. Working closely with Nitish Bajaj, we intend to deliver maximum value to all stakeholders.”

Harjeet Kohli, Joint Managing Director of Bharti Enterprises added, “Bharti is excited to announce the combination of ATFL and Del Monte Foods Private Limited, making Bharti the second largest shareholder. Leveraging synergies and a loyal consumer base, this transaction is set to bolster the platform’s scale and margin profile, offering a diverse portfolio to consumers and accelerating growth.”

Del Monte Pacific Limited (DMPL) added, “India has been an exciting market for Del Monte. With Sundrop Brands, we believe the Del Monte brand will reach new heights in India. This transaction supports our strategic focus on growth-driven partnerships.”

This acquisition represents ATFL’s strengthened commitment to the Indian retail market, promising growth and enhanced offerings for consumers across the country.

Delhi-based Biryni by Kilo has acquired Goila Butter Chicken (GBC), founded in 2016 by two college friends and chefs Saransh Goila and Vivek Sahani.

Goila Butter Chicken has redefined the iconic butter chicken dish with its distinctive smoky flavor and rich taste, achieved through the addition of cashew nuts. Starting as a single outlet in Mumbai, Goila Butter Chicken has now blossomed into 100 outlets spanning over 40 cities, including an international presence in London. 

The acquisition of Goila Butter Chicken by Biryani By Kilo, a brand synonymous with authentic Indian cuisine, brings together two giants of the Indian culinary world. Biryani By Kilo is renowned for its traditional biryanis, kebabs, kormas, and phirni, made with fresh, high-quality ingredients, ensuring an authentic and premium dining experience.

“We are thrilled to welcome Goila Butter Chicken into the Biryani By Kilo family. Goila Butter Chicken has set a high standard for innovation and quality in North Indian cuisine. Together, we aim to expand our culinary horizons and bring unparalleled Food experiences to our customers pan India,” shared Vishal Jindal, founder of Biryani By Kilo.

Saransh Goila, Co-Founder of Goila Butter Chicken, shared his enthusiasm, “This partnership is a testament to the hard work and passion of the entire Goila Butter Chicken team. We are excited to join forces with Biryani by Kilo and reach new heights. Our customers can look forward to new and exciting dishes as we celebrate our 8th anniversary and this new partnership.”

In the next two years, Goila Butter Chicken plans to expand its footprint to over 200 stores, continuing to serve the rich heritage of Indian flavors. To mark this momentous occasion, Goila Butter Chicken is launching an array of new dishes that blend tradition with innovation. 
 

The Aditya Birla Group's hospitality arm, Aditya Birla New Age Hospitality (ABNAH) has announced a strategic deal to add four iconic restaurant brands— Hakkasan, Yauatcha, Nara Thai and CinCin to its growing portfolio. 

ABNAH has acquired 100% stake in KA Hospitality Private Limited (KAH), the company that owns the home-grown brand CinCin and franchise rights of the other three global restaurant brands.  

The four brands are positioned across the customer value pyramid, spanning the mid-market to premium segments.

Hakkasan is a Michelin-starred brand serving modern Cantonese food. Yauatcha is an award-winning dim sum teahouse from London. Nara Thai is a contemporary brand that captures the essence of authentic Thai cuisine. CinCin is a modern Italian brand, designed to reflect the vibe and culture of the Italian “La Dolce Vita” lifestyle.  

“We continue to believe in the remarkable potential of the premium casual dining space, spurred by rising disposable income and evolving lifestyles of the Indian consumer. The intersection of growing affluence and the desire for new-age, high-quality dining experiences presents an  incredible growth opportunity,” shared Aryaman Vikram Birla, Director, Aditya Birla Management Corporation Private Limited and Founder, ABNAH by adding that at ABNAH their vision  is to create an unmatched portfolio of food and beverage brands within the country and bringing the best-in-class restaurants to discerning diners is a crucial step towards fulfilling  that vision. 

KA Hospitality was founded by the late Kishor Bajaj in 2011, a visionary who introduced Hakkasan and Yauatcha to Mumbai, with the foresight that India was ready for Michelin grade dining. They built on this vision under the leadership of Karyna Bajaj, who took over as Executive Director in 2016, by bringing in Nara Thai and creating their home grown brand CinCin.  

“Over the span of twelve years, we have nurtured our family business with unwavering commitment. We have built KA Hospitality from its very foundation, driven by passion into a formidable establishment renowned for crafting exceptional dining experiences. It is with great pride that we now pass the baton to ABNAH, to uphold and elevate the legacy of KA Hospitality as its future custodians,” added Karyna Bajaj.  

ABNAH currently operates Jolie’s, a members-only club comparable to the best in the world and spanning across ~30,000 square feet at Worli, in the heart of Mumbai. ABNAH is planning to build premium casual dining restaurant chains across India, a fast-growing segment in the organised food services market. With this acquisition, ABNAH, promoted by Aryaman Vikram Birla, has added seven restaurants to its portfolio across three cities.

Wingreens Farms, dips and sauces maker, has acquired cash-strapped cold-pressed juices startup Raw Pressery at a valuation of Rs 100 crore. This agreement will help Wingreens Farms expand its product portfolio to cold-pressed juices, and aid Raw Pressery’s turnaround.

Arjun Srivastava, Co-Founder and Managing Director, Wingreens Farms, said, “The existing investors in Raw Pressery have got a share swap and are now on Wingreens cap table. The Founder (of Raw Pressery) was paid cash (for his shares) and has fully exited.”

The total enterprise value of the company stands at around Rs 120 crore.

The deal is at a huge discount from Raw Pressery’s valuation of Rs 500 crore two years ago when it last raised capital of Rs 65 crore from existing backers. Its investors include Sequoia Capital, Saama Capital, DSG Consumer Partners, and Alteria Capital. So far, it has raised Rs 150 crore in funding from these investors.

Founded in 2013 by Anuj Rakyan, Raw Pressery has been looking to contain losses and turnaround the business for more than a year. During the year ended March 31, 2018, its last annual filing, Raw Pressery reported a loss of Rs 48 crore on a Rs 33 crore revenue.

PepsiCo, the US multinational food and beverage maker, will acquire Be & Cheery, the Chinese snack brand, from local jujube maker Haoxiangni Health Food Co Ltd for $705 million.

This acquisition is in line with PepsiCo’s goal to become China's leading consumer-focused food and beverage company.

Ram Krishnan, CEO of PepsiCo Greater China, said, “Be & Cheery adds direct-to-consumer capability, positioning us to capitalise on continued growth in e-commerce, and a local brand that is able to stretch across a broad portfolio of products, through both online and offline channels.”

“We also expect to leverage Be & Cheery's innovation and consumer insights capabilities to drive innovation in other key PepsiCo growth markets,” he added.

Incorporated in 2003, Be & Cheery is one of the largest online snack companies in China. It sells snacks from nuts to dried fruits mainly on Chinese e-commerce platforms. The company posted revenues of about 5 billion yuan ($711.7 million) in 2019.

Zomato has bought Uber’s food delivery business, Uber Eats, in India in an all-stock transaction. This move will discontinue Uber Eats’ operations in the country.

With this deal, Uber gets a 9.99% ownership in Zomato. Uber Eats will direct restaurants, delivery partners, and users of its app to the Zomato platform.

The development is targeted at cutting losses at the ride-hailing company’s food delivery business in India that has been a drag on the company’s earnings.

Deepinder Goyal, Chief Executive Officer (CEO) of Zomato, said, “We are proud to have pioneered restaurant discovery and to have created a leading food delivery business across more than 500 cities in India. This acquisition significantly strengthens our position in the category.”

In India, Uber Eats was not doing well and was not meeting its target of being number one or two in the business. The company was losing business by around 20% of its EBIDTA margins and therefore decided to sell the business to Zomato. Uber Eats, however, will remain active in Bangladesh and Sri Lanka.

Dara Khosrowshahi, Chief Executive Officer, Uber, stated, “India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business, which is already the clear category leader.”

“Our Uber Eats team in India has achieved an incredible amount over the last two years, and I couldn’t be prouder of their ingenuity and dedication. We have been very impressed by Zomato’s ability to grow rapidly in a capital-efficient manner," Khosrowshahi added.

On recent acquisition of Uber Eats by Zomato, Yagnesh Sanghrajka, Chief Financial Officer at 100X.VC, said, “Uber selling UberEats to Zomato is a sign of consolidation which happens typically to achieve leadership post companies achieving sizeable aggregation. Zomato now has more than 50% share in the food delivery market with this deal. The strength of the delivery network of UberEats will benefit Zomato in growing its market share in South India and hence compete more fiercely with Swiggy nationwide.”

“Startups addressing one major pain point, focusing on it full time to scale and achieve a certain level of critical mass becomes an important milestone and can help turn into a unique selling proposition for a larger player to strike a deal with them to increase its market share and hence create value and future exit opportunities for its investors,” he further stated.

Uber will now continue to focus on building its ride-hailing business in India where it competes with rival Ola.

Yum! Brands, the parent company of KFC, Taco Bell, and Pizza Hut, has signed a definitive agreement to buy a fast-casual concept operator, The Habit Burger Grill. This agreement will make Habit Burger Grill the first fast-casual chain in Yum Brands' fast-food-centric portfolio.

The transaction will likely get completed by the end of the second quarter of 2020. It is valued at approximately $375 million. Under the deal, Yum! Brands will acquire Habit Burger for $14 per share in cash.

With this acquisition, Yum! Brands will significantly increase its international portfolio. It will further enable the brand to diversify its portfolio beyond Taco Bell, KFC and Pizza Hut brands.

David Gibbs, CEO of Yum! Brands, said, “As a fast-casual concept with strong unit economics, The Habit Burger Grill is a fantastic addition to the Yum! family and has significant untapped growth potential in the U.S. and internationally.”

“With its delicious burgers and fresh proteins chargrilled over an open flame, The Habit Burger Grill offers consumers a diverse, California-style menu with premium ingredients at a QSR-like value. The transaction is a win-win because it allows us to offer an exciting new investment to our franchisees and to expand an award-winning, trend-forward brand through the power of Yum!'s unmatched scale and strengths in franchising, purchasing and brand-building,” he added.

Portfolio of Habit Burger

Started in 1969, The Habit Burger Grill provides charburgers, hand-filleted and marinated chargrilled chicken sandwiches, sushi-grade chargrilled ahi tuna sandwiches, fresh salads, sides and handmade frozen treats.

The brand launched its first restaurant in Santa Barbara, California. The fast-casual concept is now operating approximately 300 company-owned and franchised restaurants across the US and China.

Russell Bendel, President and Chief Executive Officer, The Habit Burger Grill, stated, “On behalf of The Habit Burger Grill board of directors, this transaction represents an exciting new chapter to strengthen and significantly grow The Habit Burger Grill by leveraging Yum! Brands’ global scale, resources, and franchising capabilities.”

“We’re confident the agreement delivers immediate value to The Habit Burger Grill shareholders and will greatly benefit our beloved brand, team members, franchisees and loyal guests for many years to come,” Bendel further added.

PepsiCo’s partner Varun Beverages will buy an additional 20% stake in Lunarmech Technologies Pvt Ltd for Rs 15 crore. Lunarmech makes and sells pet bottle caps and crown caps.

The deal will increase Varun Beverages’ stake in Lunarmech to 55%.

Through Angelica Technologies Pvt Ltd, Varun Beverages already owns a stake in Lunarmech. The company holds a 47.30% stake in Angelica, which owns 74% of Lunarmech.

Incorporated in May 2009, Lunarmech is headquartered in New Delhi. The firm posted a revenue of Rs 77.54 crore for the financial year ended March 2019, up from Rs 62.13 crore the year before.

Varun Beverages is one of the largest franchisees in the world of carbonated and non-carbonated beverages sold under brands owned by PepsiCo. The company produces and distributes beverages like Pepsi, Diet Pepsi, Mountain Dew, Tropicana Slice and Aquafina packaged drinking water. It further has the franchise for the Ole brand of PepsiCo products in Sri Lanka.

McDonald's has signed a deal to buy a Silicon Valley-based start-up Apprente, specializing in conversational voice-based ordering technology. This is McDonald’s third tech deal in the past six months. It fits into its push to lean more heavily on machines and artificial intelligence to increase sales.

The fast food giant said that Apprente’s technology understands different accents and is expected to allow for faster, simpler and more accurate order taking at the Drive-Thru. The technology could also be incorporated into kiosks and mobile ordering.

Steve Easterbrook, President and CEO, McDonald's, said, “Building our technology infrastructure and digital capabilities are fundamental to our Velocity Growth Plan and enable us to meet rising expectations from our customers, while making it simpler and even more enjoyable for crew members to serve guests.”

Founded in 2017, Apprente creates voice-based platforms for complex, multilingual, multi-accent and multi-item conversational ordering and uses neuroscience-based artificial intelligence technology.

Itamar Arel, Co-Founder of Apprente, stated, “Apprente was borne out of an opportunity to use technology to solve challenging real-world problems and we’re thrilled to now apply this to creating personalized experiences for customers and crew.”

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Yum China Holdings, a leading Chinese restaurant firm, will buy a controlling interest in the Huang Ji Huang group, a Beijing-based Chinese-style casual dining franchise business. With this acquisition, Yum China targets to gain a stronger foothold and enhanced know-how in the Chinese dining space.

The deal is expected to close in early 2020, subjective to the satisfaction of closing conditions and regulatory approvals.

Founded in 2004, Huang Ji Huang group has more than 640 restaurants in China and internationally. The group is operating primarily under a franchise model. Its brand portfolio consists of "Huang Ji Huang," an industry-leading simmer pot brand, and "San Fen Bao," a newly opened Chinese fast food concept in China.

Yum China is the largest restaurant company in China. It has more than over 8,700 restaurants in over 1,300 cities as of June 30.

The US-based coffee chain, The Coffee Bean & Tea Leaf (CBTL), has been in talks to re-sell its global franchisees. Earlier, CBTL was in discussions to sell its global assets to the Jollibee Foods Corp, Philippines' largest food service network operator.

And now, The Coffee Bean & Tea Leaf India franchise has been acquired by Haldiram Bhujiawala from private equity fund Everstone Capital for Rs 100 crore. 

As part of this deal, the Kolkata-based company has also bought the Gelato Italiano brand.

Manish Agarwal, Chief Executive of Haldiram Bhujiawala, said, “The company acquired a majority stake in Pan India Food Solutions, a holding company set up by Everstone Capital to house the coffee chain and ice cream parlour businesses. We have acquired a total of 89 outlets as part of this deal. We plan to expand the coffee chain and ice cream business.”

Pan India Food Solutions also owns brands such as Spaghetti Kitchen and food courts Spoon and Foodtalk. Some of these brands are also part of the agreement.

The Coffee Bean & Tea Leaf, a chain of coffee parlours, has around 1,000 outlets in its home market of the US. The brand launched its first outlet in India in South Delhi’s Saket area in 2008.

Samir Kuckreja, Founder of hospitality consultancy Tasanaya Hospitality, stated, “Both the premium coffee and gelato segments are under-penetrated and have growth potential in India. Haldiram’s is a popular Indian QSR chain, so there will be broad synergies in terms of support functions and administrative operations. But it would be interesting to see how a pure-play gelato and a premium coffee brand will synergise with Haldiram's brand.” 

Dineout, the Noida-based dining out and table reservation platform, has acquired a Delhi-based food tech platform Binge Digital.

Binge Digital helps restaurants upsell and increase ticket size with the help of analytics and video menus to their diners. In addition to this, the platform offers in-depth information about the menu at restaurants in addition to restaurant discovery services.

This is the Noida-based company’s fourth acquisition after inResto, Gourmet Passport and Torqus.

This acquisition is in line with Dineout’s latest product announcement Dine-In, which is a digital menu product that enables variable and dynamic pricing for the restaurant industry utilizing data analytics and artificial intelligence. Dine-In allows customers to view digital menus with images directly on their phone and to place an order with just a tap.

Ankit Mehrotra, CEO & Co-founder, Dineout, said, “As a Restaurant technology solutions platform, we are constantly working towards innovating and evolving our portfolio of services. We are happy and excited to announce the acquisition of Binge Digital which through its cutting-edge technology will enable us to bolster our product portfolio, especially Dine-In. With a proven record of their services for their partners through their video menus,  this integration will add an edge to our product.”

Prakhar Agarwal, Co-Founder of Binge Digital, stated, “We believe in creating cutting-edge technology to connect restaurant businesses and customers in ways that will revolutionize the restaurant industry. The same commitment was echoed by Dineout team and we are happy to be a part of India’s largest dining out and technology solutions platform.”

“Our digital video menu showcase has helped our partner brands increase the sales of their lowest selling product by 25%. Our integration with Dine-In will be a revolutionary step in the food industry which will offer a pleasing experience to consumers and will help restaurants up their game,” he added.

Currently, Binge is operational at 90 outlets across New Delhi. 

Diageo, the world’s largest spirits company, has acquired a majority stake in distilled non-alcoholic spirits brand Seedlip. With this, the maker of Johnnie Walker whisky and Tanqueray gin is catering to a growing population of teetotalers.

The company bought a 20% stake in Seedlip in 2016 through its venture capital arm Distill Ventures, which invests in small businesses it believes have the potential to make a splash in the industry.

So far, Distill Ventures has invested over 60 million pounds in about 15 drinks brands.

The deal comes at a time when the teetotalling trend has emerged in Great Britain, which means that a growing proportion of young drinkers claim to abstain from drinking alcohol. In Great Britain, Teetotalism rose to 22% in 2017 from 19% in 2005 for those aged between 16 and 24 years.

Seedlip was founded by Ben Branson in three spice variants. The brand has a presence in more than 25 countries, including the UK, Australia and the United States.

Philippines' largest food service network operator, Jollibee Foods Corp is acquiring the US-based coffee chain The Coffee Bean & Tea Leaf (CBTL) for $350 million. This deal is part of the fast-food company’s plan to expand outside its home market.

Jollibee, which has a market value of nearly $5.5 billion, will buy the coffee chain through a Singapore-based holding company. It will be acquired from private equity firm Advent International and other investors including the Sassoon family, a large shareholder in CBTL.

The coffee chain has 1,189 outlets spread across the United States, Southeast Asia and the Middle East, and is rapidly growing in Asia. The brand’s nearly three-fourth outlets are franchised.

The Coffee Bean & Tea Leaf, owned by California-based International Coffee and Tea, posted $312.95 million in revenues and $21 million in net losses last year. The comapny had a debt of $83.56 million as of end-2018.

Tony Tan Caktiong, Chairman of Jollibee, said, “The acquisition of Coffee Bean & Tea Leaf will be Jollibee's largest and most multinational so far with business presence in 27 countries.”

“The deal allows Jollibee to be a key player in the large, fast-growing and profitable coffee business. The priority is to accelerate Coffee Bean's growth in Asia. The acquisition will add 14% to Jollibee's global system-wide sales and 26% to its total store network,” he added.

Jollibee is known for its sweet-style spaghetti, burgers and fried chicken. It is operating the largest fast-food chain in the Southeast Asian nation with 3,195 restaurants.

Campari, an Italian drinks group, is in discussions to acquire French firm Rhumantilles SAS. This acquisition will help Campari to expand its rum business and grow its market in France.

French liquor firm Rhumantilles, owned by Compagnie Financiere Chevrillon and a group of minority shareholders, produces Caribbean Rhum Agricole brands through its Bellonnie & Bourdillon Successeurs (BBS) unit. The company makes Mauny, Trois Rivieres and Duquesne rhums.

Rhum is a specific type of rum drink that is only made in the Caribbean.

The Italian firm said that the net sale of Rhumantilles was 24.1 million euros.

Campari stated, "Rum was a premium category "at the heart of the mixology trend and growing cocktail culture. Moreover, France is poised to become one of the group's strategic markets and with this acquisition, Campari group has the opportunity to add significant critical mass in this market."

Campari is the world's sixth largest spirits company. It owns over 50 brands, including Aperol, Grand Marnier and Wild Turkey bourbon. 

Avendus Future Leaders Fund has acquired a stake in domestic snacks firm Bikaji Foods International for Rs 40 crore. The private equity fund has bought a part of the stake held by two existing investors, Lighthouse and Intensive Softshare.

Future Leaders Fund focuses on investing in late-stage private companies in the consumer and financial services segments, through a secondary transaction.

Ritesh Chandra, Managing Partner and Head, Future Leaders Fund, said, "Bikaji has established itself as a leading company in the Indian ethnic snacks segment with a sizable market share, profitability and a platform geared for growth. With pan-India presence and favourable macro tailwinds, the company is expected to grow rapidly in the coming years."

Future Leaders Fund is eyeing to raise Rs 500 crore from individual and institutional investors. It plans to invest in eight to 10 companies with an average investment size of Rs 40-75 crore in its life cycle.

UK sandwich chain Pret A Manger has agreed to acquire EAT, the British sandwich and coffee shop chain, to transform its stores into vegetarian outlets. Through this acquisition, Pret A Manger seeks to cater to the fast-growing demand for plant-based foods.

The company looks to capitalize on the thriving vegan and vegetarian market through its Veggie Pret brand. It is planning to convert most of the EAT shops into Veggie Pret outlets, which will cater to health-conscious consumers who prefer plant-based meals over meat.

Clive Schlee, Chief Executive Officer of Pret A Manger, said, “The acquisition of the EAT estate is a wonderful opportunity to turbo-charge the development of Veggie Pret and put significant resources behind it.” 

Pret opened its first Veggie Pret as a pop-up shop in Soho in London in 2016. Pret has 400 stores in the UK, of which, four are branded as "Veggie Pret".

Pret A Manger has been experimenting with vegetarian and vegan options for products like brownies and macaroni and cheese, as well as offering dishes including a vegan Mediterranean mezze salad.

Tata Global Beverages (TGBL) will acquire the branded packet tea business of Dhunseri Tea & Industries for an aggregate consideration of Rs 101 crore. The move is in line with TGBL’s ambition to grow its branded tea business in India.

Dhunseri branded tea business has two brands, including Lalghoda and Kalaghoda, which together make up 5% of the total banded tea market and are market leaders in Rajasthan. The deal doesn’t include Dhunseri Tea’s smaller brands ‘Chhote Lal’ and ‘Dhunseri Gold’, since the two brands have no commercial value.

The acquisition will be helping the company to expand its tea business in regional markets such as Rajasthan.

CK Dhanuka, Chairman of Dhunseri Tea and Industries, said, “The FMCG business (packet tea) is a different ballgame and a plantation is another, we know our strengths. We are on the lookout to buy more plantations in Africa.”

Riga Food SRL, an Indian restaurant company owned by celebrity Chef Ritu Dalmia and industrialist Analjit Singh, has acquired a 20% stake in Alicette SRL, a Milan-based fine-dining restaurant company, for an undisclosed amount. This acquisition is in line with Riga’s international expansion plans.

Alicette is owned by Michelin-starred chef Viviana Varese.

Dalmia said, “This partnership is a natural fit as we both share the same passion and values. I am confident that this association will help expand and strengthen our presence in Italy and all over Europe to bring the best of Indian and Italian food to our patrons.”

Riga is already having a presence in Italy with the introduction of its Indian-Italian restaurant Cittamani in 2017. Later this year, the company is slated to launch another restaurant in Milan, called Spica.

Set up by Dalmia and her partner in 2000, Riga Food currently runs restaurants in Delhi and Goa. The company is also running a catering service under its brand name Diva.

Ferrero, an Italian chocolate giant, is acquiring the biscuit and snack businesses of the American Kellogg Company for $1.3 billion. The brands that Ferrero will buy include popular Keebler cookies as well as Famous Amos and Murray Sugar Free cookies and fruit snacks like Stretch Island.

Founded in 1946, Ferrero has acquired several US brands and businesses since 2017. It is now the third-largest company in the global chocolate confectionery market.

Steve Cahillane, Chairman and Chief Executive Officer, Kellogg, said, "This divestiture is yet another action we have taken to reshape and focus our portfolio, which will lead to reduced complexity, more targeted investment, and better growth. Divesting these great brands wasn't an easy decision, but we are pleased that they are transitioning to an outstanding company with a portfolio in which they will receive the focus and resources to grow."

Giovanni Ferrero, Executive Chairman of the Ferrero Group, stated, "The Kellogg biscuit businesses "are an excellent strategic fit for Ferrero as we continue to increase our overall footprint and product offerings in the North American market."

"We have great respect for Kellogg, it's legacy and values, and are proud that Kellogg has chosen Ferrero as a good home for these businesses," he added.

Zomato, food delivery and restaurant discovery company, is in advance talks to acquire Dunzo Digital Pvt Ltd, the Bengaluru-based on-demand services provider.

The acquisition of Dunzo will help Zomato to gain an edge in expanding its delivery services from food to other products.

The development comes after Zomato’s rival Swiggy has launched a new hyperlocal service that would deliver grocery and other essential products. With this launch, Swiggy has expanded its services from food to on-demand product delivery. 

Launched in 2015, Dunzo counts tech giant Google and Blume Ventures, an early-stage venture capital firm, among its investors. The company was founded by Kabeer Biswas, Mukund Jha, Ankur Aggarwal and Dalvir Suri. It delivers products from local stores and has also been running bike taxi services in Gurugram.

The Competition Commission of India (CCI) has given approval to Tirumala Milk Products to buy Sunfresh Agro Industries, a subsidiary of Prabhat Dairy.

The fair trade regulator said, "CCI approves acquisition by Tirumala Milk Products Pvt. Ltd of (a) Prabhat Dairy Limited's subsidiary Sunfresh Agro Industries Private Limited; and (b) dairy business of Prabhat Dairy." 

In January, Prabhat Dairy said that Tirumala Milk Products, France-based Lactalis' Indian subsidiary, was buying its dairy business for Rs 1,700 crore, which is 1.09 times their sale in 2017-18 of Rs 1,554 crore. 

Apart from the dairy business, the transaction further involves the sale of 100% shareholding in Sunfresh Agro Industries through a share purchase agreement.

Milkbasket, the Grocery and milk delivery startup, has acquired Veggie India, Noida-based grocery delivery platform, for an undisclosed amount. This acquisition is in line with Milkbasket's strategy to strengthen its foothold in the Delhi NCR region and expand its household base to over 1,00,000. 

As part of the deal, all Veggie India employees, including the founders, Jainendra Upadhyay and Shailendra Upadhyay, will be joining Milkbasket. 

Veggie India’s acquisition expands Milkbasket’s customer base to 75,000.

Anant Goel, Co-Founder and Chief Executive Officer, Milkbasket, said, "The acquisition is in line with our growth plans for 2019 and adds further strength and distribution capabilities to the existing business."

Founded in 2018, Veggie India is operated by Ocado Garden Fresh Pvt Ltd. An online grocery delivery platform has a presence in Noida and Ghaziabad.

"Jainendra and Shailendra have done a remarkable job with Veggie India, and within a year of operations, the company has acquired a substantial business in their region with loyal customers. I am certain that their experience will be beneficial to the company, as Milkbasket embarks on an even aggressive growth path," Goel added.

In order to boost its online marketing efforts, McDonald’s Corp will acquire Israel’s Dynamic Yield, a leader in personalization and decision logic technology. McDonald’s will pay over $300 million for the acquisition.

The acquisition of Dynamic Yield will help McDonald's to builds its significant technology investments for growth. The fast-food chain will also be using Dynamic Yield’s technology to change its digital Drive Thru menu displays to show food based on the time of day, weather, current restaurant traffic and trending menu items.

Steve Easterbrook, Chief Executive Officer of McDonald's Corporation, said, "Technology is a critical element of our Velocity Growth Plan, enhancing the experience for our customers by providing greater convenience on their terms. With this acquisition, we're expanding both our ability to increase the role technology and data will play in our future and the speed with which we'll be able to implement our vision of creating more personalised experiences for our customers."  

Liad Agmon, Co-Founder and CEO, Dynamic Yield, added, "We started Dynamic Yield seven years ago with the premise that customer-centric brands must make personalization a core activity. We're thrilled to be joining an iconic global brand such as McDonald's and are excited to innovate in ways that have a real impact on people's daily lives."

Cargill's cocoa and chocolate business is set to buy Smet, a leading Belgium-based supplier of chocolate and sweets decorations to the food service and confectionery markets.

The two companies intend to bring together their global gourmet chocolate activities. The acquisition of Smet will provide Cargill the significant opportunities to accelerate growth in the gourmet category. 

Inge Demeyere, Managing Director of Cargill’s chocolate activities in Europe, said, "The proposed acquisition emphasises Cargill’s commitment to its customers in the gourmet segment, building on the strengths of both organisations and enhancing complementary capabilities. We will broaden our product portfolio and services to artisans and chocolatiers, bakery, hospitality businesses and food service industries. Smet enjoys great market recognition. As their brand joins Cargill’s existing brand portfolio, their unique entrepreneurial capabilities will be leveraged to allow for a dedicated focus on gourmet customers."

Theo Graban, the Executive Member of the Board of Smet, added, "For over five decades, Smet is driven by a passion for chocolate and stands out with a relentless problem-solving attitude, innovative mindset and great flexibility."

Johan Smet, CEO of Smet, further stated, "Cargill provides us with a unique opportunity to serve our customers with a globally integrated cocoa and chocolate supply chain, a renowned sustainability approach and deep chocolate expertise."

Lite Bite Foods, an Indian restaurant chain, has acquired four brands from the food and beverages arm of Phoenix Mills Group, Bellona Hospitality, for an undisclosed amount. 

Rohit Aggarwal, Director of Lite Bite Foods, said, "The acquisitions will help us in expanding our footprint across multiple markets, formats and cuisine."

Lite Bite Foods has acquired brands including Shizusan, having outlets in Mumbai, Pune and Bangalore, 212 All Day and All Good, and Bar. The company is promoted by Dabur India’s Vice-Chairman Amit Burman and Rohit Aggarwal. It owns around 200 casual dining restaurants in India like Punjab Grill, Street Foods and Tres. 

The Phoenix Mills Group started operations as a textile manufacturing company. Since then, it has established itself as a pure-play real estate player.

RJ Corp-owned Varun Beverages, PepsiCo's long-standing franchise bottling partner, has acquired the bottling business of PepsiCo in South and West India for an undisclosed amount. This development makes VBL national bottling partner for PepsiCo.

Ahmed El Sheikh, President of PepsiCo India, said, "To unlock the full potential of PepsiCo’s operating model in India, the company has decided to franchise its company-owned bottling operations in South and West regions to Varun Beverages Limited (VBL), subject to receipt of necessary statutory approvals."

"With this agreement, VBL will acquire a national bottling, sales and distribution footprint. The move will profitably drive synergies of scale, operational productivity and efficiency across all facets of PepsiCo's beverage business," he further stated.

Ravi Jaipuria, Chairman of VBL, added, "Varun Beverages and PepsiCo India are further strengthening their close to a three-decade-long partnership. This development will help us acquire greater scale, operational productivity and efficiency leading to higher revenues and profitable growth."

Swiggy, an online food delivery platform, has acquihired a Bengaluru-based artificial intelligence (AI) startup, Kint.io, which applies deep learning and computer vision for identifying objects in videos.

In 2018, Swiggy had appointed Dale Vaz as Head Engineering and Data Sciences to build the AI-driven platform for hyperlocal discovery and on-demand delivery.

Following the acquisition, Pavithra Solai Jawahar and Jagannathan Veeraraghavan, Founding Members of Kint.io, will join the Swiggy team.

Dale Vaz, Head of Engineering and Data Sciences, Swiggy, said, "The team at Kint.io comes with an exceptional understanding and expertise in AI, machine learning and data sciences. This acquihire is part of Swiggy's strategy to scale our tech prowess by bringing in entrepreneurial teams that can solve unique customer problems while leveraging the network and resources at Swiggy. We provide a unique mix of strong entrepreneurial DNA and professional leadership that gives startup teams the ownership and leverage to move fast and make a big impact."

"The team joins us at a very exciting time. The focus has never been more intense on building industry-changing technology in AI and other areas. We look forward to working together on great new features and capabilities," he added.

Yellow Tie Hospitality, food and beverage franchise management company, has acquired casual dining brand Bombay Blue in an all-cash deal from Everstone Equity-owned Blue Foods.

Yellow Tie Hospitality is operating more than 10 brands under exclusive licensing agreements for Genuine Broaster Chicken, UK’s Wrapchic and Just Falafel from Dubai. Everstone runs over 130 outlets under the brands Spaghetti Kitchen, Copper Chimney, The Coffee Bean & Tea Leaf and Gelato Italiano. 

Karan Tanna, Founder and CEO, Yellow Tie Hospitality, said, "We have acquired Bombay Blue because of its intellectual property, standard operating procedures, great brand recall and brand image, and a good presence almost across India."

"We will focus on tier-two and tier-three cities and hope to be operating 100 outlets of Bombay Blue by 2025 on a per-store investment of Rs 1.5 crore on backend infrastructure. Smaller markets are more profitable and scalable, with easier real estate costs; these markets will be our core focus areas," he added. 

वरुण बेवरेज लिमिटेड अपने कार्बोनेटेड पेय व्यवसाय के लिए दक्षिण और पश्चिम में पेप्सिको के बोतल संबंधी, बिक्री और वितरण के लिए बात कर रही है। ये कदम कंपनी को राष्ट्रव्यापी नियंत्रण देगा।

आरजे कॉर्प के स्वामित्व वाली फर्म भारत की बिक्री में इसका 51 प्रतिशत से अधिक का योगदान देने के साथ पहले ही उत्तरीय और पूर्वी क्षेत्रों में पेप्सिको के बोतलों का संचालन संभाल रही है।

कंपनी के स्वामित्व से फ्रैंचाइज़ के स्वामित्व तक के संचालन से कर्मचारियों के ट्रांज़िशन का प्रबंध करने के लिए दिसंबर 2018 में पेप्सिको ने मुख्य मानव संसाधन अधिकारी सुचित्रा राजेंद्र के अधीन एक टीम का गठन किया था।

विकास के बारे में एक कार्यकारी ने कहा, 'बॉटलिंग परिचालनों का राष्ट्रीय स्तर कंपनी की वैश्विक दिशा के अनुसार है, जो दुनिया भर के बाजारों में संपत्ति-प्रकाश व्यवसाय चलाने और फ्रैंचाइज़ी भीगादारों के माध्यम से अपने बॉटलिंग संचालन के अधिकांश संचालन के लिए है। हालांकि संभावित लेनदेन, छोटी अवधि (पूर्ण) में नहीं होगा क्योंकि इसमें संपत्तियों और कर्मचारियों के बहुत से ट्रांसफर शामिल होंगे।'

Varun Beverages Ltd (VBL) is in advanced talks to buy bottling, sales and distribution of PepsiCo in the south and west for its carbonated drinks business. This move will give it nationwide control of these functions.

RJ Corp-owned firm is already running PepsiCo's bottling operations in the north and east, contributing over 51% to its India's sales volume. 

In December 2018, Pepsi-Co had formed a team under Suchitra Rajendra, Chief Human Resources Officer, for managing the likely transition of employees from company-owned to franchisee-owned operations. 

An executive aware of the development said, "The divestment of the bottling operations nationally is in line with the company’s global direction to run asset-light businesses across world markets and operate the majority of its bottling operations through franchisee partners. The likely transaction, however, will not be (completed) in the short term since it will involve multiple and complicated transfers of assets and employees."

The Coca-Cola Company has completed Costa Limited acquisition from Whitbread PLC. The $4.9-billion transaction has been completed following the approval from regulatory authorities in the European Union (EU) and China.

The acquisition was announced on August 31, 2018. Founded in London in 1971, Costa has operations in more than 30 countries.

The acquisition of Costa gives Coca-Cola a significant footprint in the global coffee business, which is growing at 6% annually.

James Quincey, Chief Executive Officer, The Coca-Cola Company, said, "We see great opportunities for value creation through the combination of Costa's capabilities and Coca-Cola's marketing expertise and global reach."

"Our vision is to use the strong Costa platform to expand our portfolio in the growing coffee category," he further stated.

Alison Brittain, Chief Executive of Whitbread, added, "We wish our friends and colleagues at Costa all the very best for their future success. Whitbread acquired Costa 23 years ago, when it had only 39 shops. Costa has grown to become a leading, international coffee brand, and Coca-Cola is the right partner to take Costa to the next stage of expansion."

PepsiCo has completed the acquisition of Israeli firm SodaStream. In August, PepsiCo said that it was buying the Israeli company that makes machines to carbonate home tap water for $3.2 billion.

Ramon Laguarta, CEO of PepsiCo, said, "With its customisable options, SodaStream empowers consumers to personalise their preferred beverage in an environmentally friendly way and provides PepsiCo with a significant presence in the at-home marketplace."

"Together with SodaStream, I'm confident we can accelerate progress on our shared goal of curbing plastic waste and building a more sustainable future," he added.

Daniel Birnbaum, CEO, SodaStream, stated, "SodaStream was founded to bring healthy, convenient and environmentally friendly beverage options to consumers around the world and PepsiCo will help us deliver and expand on this mission."

Online food ordering platform Zomato has acquired Lucknow-based startup TechEagle Innovations for an undisclosed amount. This acquisition will help Zomato to carve a path toward drone-based food delivery in India. 

TechEagle will help the food ordering app in creating a hub-to-hub delivery network powered by hybrid multi-rotor drones.

Deepinder Goyal, Founder and CEO, Zomato, said, "We are currently at the early stage of aerial innovations and are taking baby steps towards building a tomorrow wherein users can expect a drone to deliver the food they ordered online."

"We believe that robots powering the last mile delivery is an inevitable part of the future and hence is going to be a significant area of investment for us," he added.

Presently, Zomato's food delivery business contributes about 65% to the overall revenue of the company.

Dineout, an online restaurant reservation platform owned by Times Internet Ltd, has acquired Pune-based Torqus, a leading SaaS-based restaurant management software provider.

With this acquisition, Dineout will expand its services and strengthen its position as a full stack technology service provider in the restaurant domain.

After the acquisition, the Torqus team will join Dineout and it will continue to operate as an independent business. 

Ankit Mehrotra, Co-Founder & Business Head, Dineout said, "The food industry is thriving with innovations and we are excited to announce the acquisition of Torqus. While most of the innovations have been taking place in the aggregation and delivery space, Dineout and Torqus, combined, will enable us to tap the immense possibilities in the restaurant market."

Tanmay Ratnaparkhe, Co-Founder and CEO of Torqus, stated, "We are excited to join Dineout as together we can deliver the best end to end experience to restaurateurs - from generating new business to managing backend operations."

bigbasket, India's largest online supermarket, has announced the acquisition of three new ventures and with this, the company makes an entry into 2 new industry segments of micro-delivery and physical/omnichannel commerce.

Of these, the retail major has 100% stake in two ventures namely Bengaluru-based Morning Cart and Pune-based RainCan (Bloomskart Retail Private Limited). In the third venture called Savis Retail which operates cloud-connected, un-manned, smart vending machines under the name kwik24, bigbasket has a controlling stake.

Morning Cart & RainCan are offering Milk subscriptions, however, this acquisition brings a huge value-add to the customers where bigbasket will offer subscription-based services. bigbasket has already initiated a soft launch of the new subscription service, named bbdaily, in Bangalore & Pune and is soon to launch in 8 other metro cities.

With Kwik24, bigbasket has installed 100 smart vending machines across Bengaluru and plans to further expand to other cities very soon. The vending machines are installed as part of the bb Instant service.

Hari Menon, CEO and Co-Founder, bigbasket, said, "The micro delivery startup acquisition really helps bigbasket in accelerating the need to bring fresh subscription services to our customers daily. The Kwik24 acquisition gives us the ability to be closer to the customer by way of the bb instant smart vending kiosks."

Zydus Cadila Group will acquire the consumer brand business of Kraft Heinz in India, which includes the children's milk drink Complan, for Rs 4500-4600 crore.

Once the group gets selected, it will hire a private equity partner for financing support. The company had sent feelers to PE groups like True North, Temasek, Warburg Pincus and Carlyle to partner them and may place its equity in a back-to-back deal. 

Zydus Cadila, India's fourth-largest pharmaceutical company, is the frontrunner for the Kraft Heinz's India portfolio.

Kraft Heinz consumer business in India comprises Complan, talcum powder Nycil, glucose powder drink Glucon-D and Sampriti Ghee.