Foodtech unicorn Rebel Foods has acquired a majority stake in chocolate brand SMOOR. Financial terms of the deal are not disclosed.
With this investment, SMOOR eyes to grow by three times in FY 2022-23. This partnership would further help its growth, according to a statement.
Founded in 2011 by Jaydeep Barman and Kallol Banerjee, Mumbai-based Rebel Foods is home to brands such as Faasos, Behrouz Biryani, Ovenstory Pizza, Mandarin Oak, The Good Bowl, SLAY Coffee, Sweet Truth, Wendy’s, among others.
With more than 450 kitchens across 70+ cities, Rebel Foods has developed its full-stack technology – Rebel OS – through which multiple brands are launched and scaled up in a short period, as claimed by the foodtech unicorn.
Rebel Foods currently operates across 10 countries – India, Indonesia, United Arab Emirates (Dubai, Abu Dhabi, Sharjah), the UK, Singapore, Malaysia, Thailand, Hong Kong, Philippines, and Bangladesh.
“We are excited about adding SMOOR to our catalogue of brands with its leadership in high-quality chocolates and desserts offerings. This investment gives us confidence that we have been able to consistently choose outstanding brands. Being an early adopter of the Thrasio model in food in India, we have disrupted the 500-year old industry of the traditional restaurant business, by building a full-stack technology-enabled platform – Rebel Operating System,” said Raghav Joshi, cofounder, Rebel Foods.
With this investment, SMOOR would continue to build its omnichannel distribution strategy by expanding its physical centers across Tier 1 cities in India and accelerate its online presence across digital platforms, the statement said.
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