Navis Capital Partners, is selling its holdings in Nirula’s fast food chain to A2Z Excursions. A2Z is a privately held business group engaged in hospitality, real estate, travel and related business. The deal estimated at being around 80 Crs., does not see much valuation being attributed to the fast food chain, which was once a leading brand – before the established MNC brands Mc. Donald’s, Pizza Hut etc. took over the market.
Navis Capital Partners, had acquired Nirulas in 2006, for an estimated 90 Crs. Post acquisition, Navis had expanded the brands operations from 20 outlets to 80 outlets – including some outlets in tier 2 cities in the North. Nirula’s 80 outlets include pastry shops, ice-cream parlors, restaurants, & hotel.