Cloud kitchen startup Rebel Foods buys majority stake in chocolate brand Smoor
The Thrasio-style startup plans to invest $150 million across food brands and scale its India portfolio
Cloud kitchen startup Rebel Foods has acquired a majority stake in Smoor, a luxury chocolate brand, as part of its strategy to further grow its portfolio of brands.
Rebel Foods did not disclose the size of the investment but said the deal valued Smoor at more than $50 million.
The Thrasio-style startup plans to invest $150 million across food brands and scale its India portfolio, Rebel Foods said in a statement.
The investment from Rebel Foods will help Smoor expand its distribution network.
“Smoor will continue to build its omni-channel distribution strategy by expanding its physical customer experience centres in tier-1 cities in India and accelerating online presence across digital platforms,” according to Rebel Foods.
“The expansion will also include strengthening its physical presence in nine cities (including Mumbai, Pune, Hyderabad, Chennai, Bengaluru, New Delhi, Gurugram, Noida and Faridabad), and a fast-growing omni-channel presence,” it added.
Established in 2015, Smoor sells signature cakes, chocolates, gift hampers, desserts, and beverages. The brand has its own stores, besides selling its products through cafes, kiosks, direct-to-consumer channels and on e-commerce sites.
“With Rebel Foods’ investment, we are set to make deeper inroads into the global market, introducing new and exciting confectionaries in multiple, accessible formats. We look forward to the growth that will unfold on the back of this development,” said Vimal Sharma, chief executive officer, Smoor.
Cloud kitchen startups in India are investing in or acquiring scalable brands to offer more variety to consumers. Rebel Foods through its Rebel Launcher programme plans to onboard 40 to 50 food brands across categories such as premium north and South Indian cuisines, Indian sweets and sandwiches.
Besides India, the company plans to take all the brands under the Rebel Launcher platform to Indonesia, the UAE (Dubai, Abu Dhabi, Sharjah), Singapore, the UK, Malaysia, Thailand, Hong Kong, Philippines, and Bangladesh.
Raghav Joshi, co-founder, Rebel Foods said it was an early adopter of the Thrasio-style model for food in India. “Our focus will continue to be on bringing great quality brands to every neighbourhood across food missions.“
Rebel’s portfolio includes brands such as Faasos, Behrouz Biryani, Ovenstory Pizza, Mandarin Oak, Slay Coffee, Sweet Trut and Wendy’s.
It operates more than 450 cloud kitchens across 70 cities in 10 countries.
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