Jubilant FoodWorks to buy 10% stake in Barbeque Nation
By Retail4Growth Team | January 04, 2021
The company has entered into a share subscription agreement to acquire equity shares and a restated shareholders’ agreement to regulate the rights and obligations of BNHL’s key shareholders.
Jubilant Foodworks Limited (JFL) has announced an investment of Rs 92 crores into Barbeque-Nation Hospitality Limited (BNHL) for an equity stake of 10.76%.
Towards this end, the company has entered into a share subscription agreement to acquire equity shares and a restated shareholders’ agreement to regulate the rights and obligations of BNHL’s key shareholders.
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.”
BNHL operates Barbeque Nation (BBQ) an Indian cuisine, casual dining Brand which introduced the concept of live grilling of Kebabs to the Indian market. 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.
Jubilant Foodworks Limited (JFL/Company) is part of Jubilant Bhartia group and is India’s largest foodservice Company. Its Domino’s Pizza franchise extends across a network of 1,264 restaurants in 281 cities (as of September 30, 2020). The company also enjoys exclusive rights to develop and operate Dunkin’ Donuts restaurants in India, has in operation 26 restaurants across 8 cities in India (as of September 30, 2020).