"The company is rapidly expanding its presence in the travel retail space and they are talking to a couple of private investment bankers to scout for PE investors to fund this expansion," said the person privy to the development.
Cafe in New Delhi, Miyabi Sushi in Dubai, and Shizuku Ramen in Melbourne are amongst the first 100 restaurants that have already signed up in the last week.
While HMS will own 51% of the joint venture, LBF will own the remaining 49%. The association combines the global resources and expertise of HMSHost and Lite Bite Foods.
Liquor shops and bars in the city have suffered losses to the tune of Rs 10 crore in past four days in view of the dry days announced by the district administration from Thursday to Sunday for the first Shahi Snan.
Yum has almost 70 per cent of the restaurants operated via franchisees with Ravi Jaipuria led Devyani International as one its largest franchisees partner in the country.
At old service tax rate, the effective rate of taxation came to 4.94 per cent of the food bill and at the higher rate of 14 per cent it comes to 5.6 per cent.