Global restaurant chain Johnny Rockets is in advanced talks with multiple private equity firms to raise funds for expanding its India operations.
Among others that Johnny Rockets is exploring fundraise with includes Barbeque Nation, one of the fastest growing casual dining chain, for a strategic stake sale.
Johnny Rockets, the international fast food franchisee was brought to India by Prime Gourmet in 2013 with first outlet at Select CityWalk. The restaurant chain has also entered into express restaurants at DLF Cyberhub, Gurgaon.
Business news platform VCCircle had earlier reported of a possible purchase of Johnny Rockets’ Indian franchise however a source at Prime Gourmet, which owns Johnny Rockets India franchise, told Restaurant India, “The information is not correct. While we are raising funds through private equity but Barbeque Nation is only one of the groups looking at it currently among other investors.”
Each year, Johnny Rockets serves 17 million Hamburgers, 11.3 million soda pops, 8.3 million Shakes and Malts, 8 million pounds of Fries, 2.1 million orders of Onion Rings and 815,000 gallons of ice cream.
And, it operates more than 340 franchise and corporate locations in 26 countries around the world.
According to a recent Technopak report, India’s quick serve industry is expected to grow to $4.61 billion by 2020, more than double its current value of $2.11 billion. While Johnny Rockets is growing in India, but if something happens and Barbeque Nation invests in the company it will be a win-win situation for the brand at a time when other global players are struggling in India.