- August 23, 2019 / 5 min readThe Coffee Bean & Tea Leaf, a chain of coffee parlours, has around 1,000 outlets in its home market of the US.
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.”
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