Jubilant Foodworks to buy 10.76% stake in Barbeque-Nation Hospitality

Jubilant Foodworks Limited, a foodservice company in India, has announced an investment of Rs. 92 crores into Barbeque-Nation Hospitality Limited 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. 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.

Mr. Shyam S. Bhartia, Chairman and Mr. 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.”

Jubilant Foodworks Limited is part of Jubilant Bhartia group. Its Domino’s Pizza franchise extends across a network of 1,264 restaurants in 281
cities (as of September 30, 2020). The Company has the exclusive rights to develop and operate Domino’s Pizza brand in India, Sri Lanka, Bangladesh and Nepal.

At present, it operates in India, and through its subsidiary companies’ in Sri Lanka and Bangladesh. 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).

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 (as of September 30, 2020).

AK

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Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of  economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.

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