CX Partners controlled biryani focused CDR brand Dindigul Thalappakatti has raised a fresh round of funding which currently values the brand at Rs. 860 crore.
The funding was led by Tree Line Investment Management along with other reputed private & public individual investors. The family office of Indian conglomerate ‘Havells Group’ is also a part of the investor cohort.
The second round of investment will enable Dindigul Thalappakatti to fast track its growth plan across focus markets – Kerala, Andhra, Telangana, Karnataka, Tamil Nadu and Sri-Lanka. Over the course of the next one year, Dindigul Thalappakatti plans to set up 25-30 restaurants and cloud kitchens. The brand currently operates over 85 restaurants and cloud kitchens globally.
Desai Diwanji acted as a legal counsel for the company and existing shareholders. Sahil Jain, existing shareholder was the advisor to the transaction. The brand was previously valued at Rs. 450 crore after a consortium led by private equity firm CX partners picked up a majority stake in Dindigul Thalappakatti for Rs. 235 crore.
Ashutosh Bihani, CEO, Dindigul Thalappakatti, said, “The core foundation of Dindigul Thalappakatti’s brand is rooted- in its rich heritage, authenticity and uniqueness. Dindigul Thalappakatti has always commanded strong loyalty across south India and more recently in select international markets. We plan to retain our leadership in the fragmented and commoditised Biryani Market through faster yet best in class profitable growth.”
Zaheer Sitabkhan, Founder of Tree Line Investment Management, said, “We are pleased to invest and partner with Dindigul Thalappakatti as they bring this established and delicious cuisine across Southern India and several overseas markets. DT has identified meals people love and at a price point offering fantastic value. We are impressed with what management at DT have achieved to prepare the business to grow and scale across the South and are excited to be part of their journey.”
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.