Everstone Capital, which holds about 88% stake in Burger King India, will sell a minority stake in the quick service restaurant (QSR) chain. The homegrown PE firm, which had set up the franchise for Burger King in India five years ago, may sell 20% stake, valuing the chain at $300-$350 million.
The sale process is expected to be launched in a few weeks and is managed by advisory firm EY. After the transaction, Everstone will remain the controlling stakeholder.
Everstone Capital controls F&B Asia Ventures, which owns and operates Burger King’s restaurants in India and Indonesia. In 2013, Everstone partnered with US fast-food chain Burger King Worldwide to set up the franchise for the two countries.
The first outlet of Burger King India was opened in November 2014. As of now, it has around 140 outlets in more than 30 cities in India. The company further plans to grow its store count to 200 by end of FY19.
If the deal materialises, it will be Everstone’s second part exit from the food and beverages (F&B) portfolio in the past year. Earlier, the company sold a stake in Massive Restaurants, owned by Jiggs Kalra and son Zorawar Kalra, to PE firm Gaja Capital.
Private equity firm Everstone Capital has acquired the Indian operations of Australian bakery chain Cookie Man for an undisclosed amount.
Everstone’s packaged foods platform, Everfoods, has entered into an agreement to acquire Chennai-based Australian Foods India Pvt. Ltd. Cookie Man was launched in India in 2000. Everfoods struck the deal through unit Modern Food Enterprises Pvt. Ltd.
“Cookies are the fastest-growing segment in the biscuits category, and the segment is expected to continue to grow at double-digit rate in the coming years,” said Deep Mishra, managing director at Everstone Group.
Besides cookies, Cookie Man makes muffins, ice creams, brownies and chocolates. It claims to have a presence in more than 50 stores in leading malls and airports across 20 cities across India.
The company had posted net sales of Rs 22 crore for 2016-17, up from Rs 21 crore a year before, according to filings with the Registrar of Companies.
As part of the acquisition, Everfoods also gets exclusive rights to own and operate the brand and other related intellectual property not only in India but also in Sri Lanka, Nepal, Bangladesh and Mauritius.
This is not the first acquisition by Everstone in the bakery segment. In 2016, Everfoods bought Modern Foods from consumer goods giant Hindustan Unilever Ltd.
StartupOpening a restaurant with no money sounds like a stupid idea. However, it is the dream of many aspiring chefs and food entrepreneurs to have a…
Food businessVietnamese coffee is not just a trend—it’s becoming a part of urban Indian coffee culture.
Food and BeverageIn today’s fast-paced food industry, Limited-Time Offers (LTOs) bring a fresh twist to the table. They add excitement to menus, keep regular…
Food and BeverageNext time you’re dining out, pay attention to the sauce on your plate. It’s not just there for decoration—it plays a key role in the overall flavor.
Copyright © 2009 - 2025 Restaurant India.