Active Stocks
Fri May 24 2024 15:59:27
  1. Tata Steel share price
  2. 174.80 -0.37%
  1. NTPC share price
  2. 374.85 0.68%
  1. State Bank Of India share price
  2. 828.60 -0.45%
  1. ITC share price
  2. 436.10 -1.16%
  1. Power Grid Corporation Of India share price
  2. 318.50 -0.39%
Business News/ Companies / News/  Aditya Birla Group acquires 100% stake in KA Hospitality
BackBack

Aditya Birla Group acquires 100% stake in KA Hospitality

Aditya Birla Group: The Aditya Birla Group on Tuesday announced the acquisition of full stakes of KA Hospitality. Now, the group owns chains like Hakkasan, Yauatcha, Nara Thai, CinCin

Aditya Birla Group has acquired KA HospitalityPremium
Aditya Birla Group has acquired KA Hospitality

Aditya Birla New Age Hospitality (ABNAH) acquired full stake in KA Hospitality, announced the company on Tuesday. The acquisition has resulted in the addition of four new restaurant brands, Hakkasan, Yauatcha, Nara Thai and CinCin in its portfolio.

Also read: Aditya Birla Capital launches QIP, floor price set at 175.9 per share

The acquisition helped Aditya Birla Group's hospitality arm to expand its presence with seven more restaurants across three cities.

 "We continue to believe in the remarkable potential of the premium casual dining space, spurred by rising disposable income and evolving lifestyles of the Indian consumer. The intersection of growing affluence and the desire for new-age, high-quality dining experiences presents an incredible growth opportunity," said Aryaman Vikram Birla, Director, Aditya Birla Management Corporation Private Limited and Founder, ABNAH said.

Also read: Aditya Birla Group to enter jewellery retail biz with 5000 crore investment

"Each of the four brands uniquely stands out while maintaining a steadfast commitment to delivering exceptional culinary experiences. Dynamism is the lifeblood of the food industry, and our plan is to broaden the reach of these brands and take these distinctive dining experiences to other cities across India," he added.

Also read: Aditya Birla Capital to raise 1,250 crore from Grasim, Surya Kiran Investments

Currently, ABNAH is working on to create a premium casual dining restaurant chains across India, which is a lucrativew segment in the organised food services market.

KA Hospitality

Founded in 2011 by Kishor Bajaj, the hospitality services owns the home-grown brand CinCin and has the franchise rights to the other three global restaurant brands. Its first enterprise was Hakkasan Mumbai, the Michelin-awarded establishment from London with outposts in the Middle-East, Asia and USA

“Over the span of twelve years, we have nurtured our family business with unwavering commitment. We have built KA Hospitality from its very foundation, driven by passion into a formidable establishment renowned for crafting exceptional dining experiences. I have no doubt that they will excel in the next phase of the business’ growth," said Karyna Bajaj, Executive Director of KA Hospitality.

After Hakkasan, the company brought down Yauatcha, London's famous dim sum and tea house to Mumbai. It was a big success and was later expanded to Bengaluru and Kolkata.

In 2017, KA brought down Nara, Bangkok's go-to Thai institution, which brings this vibrant cuisine in a modern setting, complemented by warm Thai hospitality, in the heart of BKC and Colaba. After bringing international brands, the company shifted its focus to homegrown brands like CinCin, cicchetti.

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 01 Aug 2023, 12:28 PM IST
Next Story footLogo
Recommended For You