Jubilant FoodWorks to invest ₹92 cr in Barbeque Nation for 10.76% stake1 min read . Updated: 31 Dec 2020, 03:18 PM IST
- Jubilant's stock rises 4% on the announcement
- Jubilant FoodWorks has lately ventured into Chinese cuisine and biryani businesses
New Delhi: Jubilant FoodWorks Ltd (JFL) on Thursday said it will invest ₹92 crore into Barbeque Nation Hospitality Limited (BNHL) for an equity stake of 10.76%.
BNHL operates Barbeque Nation (BBQ) an Indian cuisine, casual dining brand. It owns and operates 138 Barbeque Nation restaurants in 73 cities in India and 7 international Barbeque Nation restaurants (as of 30 November, 2019). It also has a presence in the Italian cuisine segment under the brand, Toscano.
At 3:15 pm on Thursday, JFL's scrip on NSE rose 4% to ₹2,794.
Shyam S. Bhartia, Chairman and Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited said, “We are happy to announce our investment in Barbeque Nation - a differentiated, casual dining restaurant brand of scale with strong unit economics. We are confident that the proposed investment will create value for our shareholders."
JFL's Domino’s Pizza franchise extends across a network of 1,264 restaurants in 281 cities (as of 30 September, 2020). JFL has exclusive rights to operate Domino's Pizza brand in India, Sri Lanka, Bangladesh and Nepal. The company also has exclusive rights to develop and operate Dunkin’ Donuts restaurants in India and has in operation 26 restaurants across 8 cities in India. JFL has ventured into Chinese cuisine segment with its first owned restaurant brand, ‘Hong’s Kitchen’, which serves 2 cities with 5 restaurants in India. Recently, the company has added Indian cuisine of biryani, kebabs, breads and more to the portfolio by launching Ekdum! with 3 restaurants in Gurugram. In accordance with shifting consumption habits, the company has also launched its ready-to-cook range of sauces, gravies and pastes under the brand ‘ChefBoss’.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!