Now Capital invests in food court operator Kwals
Besides the funds, Now Capital will advise Kwals on real estate, financial structuring and go-to-market strategy to ensure positive cash flow
New Delhi-based investment firm Now Capital Group on Monday said it has invested in food court operator Kwals Group, which plans to spend over Rs200 crore to expand operations nationwide.
Now Capital declined to comment on the equity structure of the investment.
Kwals Group, which plans to bring American restaurant chain IHOP to India, will also look for tuck-in acquisitions for growth.
Now Capital, through its Now Foods unit, had earlier invested in the local units of American burger chain Carl’s Jr., BoomboxCafe India, Chai Thela and franchises of milkshake brand Keventers.
Besides food-court management, Kwals has recently got a licence from Detroit-based not-for-profit healthcare firm Henry Ford Health System for the India market.
Following the investment, Sahil Baweja and Ankit Gupta, directors at Now Capital, will join Kwals’s advisory board, the investment firm said. “We are entering into strategic partnerships and investing across the spectrum from QSR (quick service restaurants) to fine dining. We are confident that ‘new segments’ such as American breakfast and all-day dining will be the elusive growth drivers for the restaurant industry,” said Baweja.
Now Capital will advise Kwals on real estate, financial structuring and go-to-market strategy to ensure positive cash flow, said Gupta.
Investments in food and agriculture businesses hit a five-year low in 2016, show data published by VCCircle in October last year.
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