Jubilant Foodworks to invest Rs 92 crore in Barbeque Nation for 10.76 pc stake
Dec 31, 2020
Noida (Uttar Pradesh) [India], December 31 : Food services major Jubilant FoodWorks, which operates Domino's Pizza and Dunkin' Donuts chain in India, on Thursday announced an investment of Rs 92 crore into Barbeque Nation Hospitality Ltd (BNHL) for an equity stake of 10.76 per cent.
The company has entered into a share subscription agreement to acquire equity shares and a restated shareholders' agreement to regulate the rights and obligations of BNHL's key shareholders.
BNHL operates Barbeque Nation (BBQ), an Indian cuisine and casual dining brand which introduced the concept of live grilling of kebabs to Indian market.
It owns and operates 138 restaurants in 73 cities in India and seven international outlets. It also has a presence in the Italian cuisine segment under the brand Toscano.
"We are happy to announce our investment in Barbeque Nation -- a differentiated, casual dining restaurant brand of scale with strong unit economics," said Chairman Shyam S Bhartia and Co-Chairman & Managing Director Hari S Bhartia
"We are confident that the proposed investment will create value for our shareholders," they said in a joint statement.
