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TVS Shriram Growth Fund, Bahrain firm ink $11mn deal

TVS Shriram Growth Fund, Bahrain firm ink $11mn deal
PTI
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First Published: Tue, Dec 28 2010. 02 47 PM IST
Updated: Tue, Dec 28 2010. 02 47 PM IST
Dubai: TVS Shriram Growth Fund has invested $11 million in Om Pizzas and Eats Pvt Ltd to help the firm, which is the pan-India franchisee for global brands like Papa John’s Pizza, Chili’s Grill & Bar and The Great Kabab Factory, open more outlets and enhance its market share in the country.
Om Pizzas and Eats is promoted by Bahrain-based Jawad Business Group (JBG). JBG chairman and chief executive officer Faisal Jawad said his group has worked closely with TVS Capital, which manages the TVS Shriram Growth Fund, over the last few months.
“The brands in our portfolio in the form of Papa John’s Pizza, Chili’s Grill and Bar and The Great Kabab Factory have what it takes to be formidable players in the pizza and casual dining segments in India and TVS Capital’s investment is very timely in terms of allowing us to capture the growing momentum in these segments,” he said.
JBG has the franchise for several global restaurant and retail brands and operates more than 650 restaurant and retail outlets across the Gulf region.
TVS Capital chairman and managing director Gopal Srinivasan said Om Pizza’s focus on the organised food services industry fits well with the fund’s focus on consumption-driven opportunities and offered his company significant macro-driven opportunities in the eating out market.
“We are keen to partner with JBG to scale their outlets across India over the next four years. JBG has strong expertise of operating international brands and brings more than 10 years of relationships with several of these brands,” he said.
Om Pizza currently operates 28 restaurant outlets across India, while Papa John’s Pizza outlets are based in New Delhi, Mumbai, Bangalore and Pune. The company has Chili’s Grill & Bar restaurants in Mumbai, Bangalore and Hyderabad.
Hemu Ramaiah, the co-founder of Landmark Book Stores and venture adviser to TVS Shriram Growth Fund, said the task of building the international brand of Papa Johns’ in India is as exciting as creating the Landmark Bookstore chain.
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First Published: Tue, Dec 28 2010. 02 47 PM IST