- They have acquired a total of 89 outlets as part of this deal and are looking to expand the coffee chain and ice cream business.
- Everstone Capital in a deal sold The Coffee Bean and Tea Leaf India franchise to Haldiram Bhujiawala which cost close to Rs. 100 crore.
Everstone Capital in a deal sold The Coffee Bean and Tea Leaf India franchise to Haldiram Bhujiawala which cost close to Rs. 100 crore.
The Kolkata based company has also bought the Gelato Italiano brand as part of the deal, said Manish Agarwal.
He also said that his company has bought a majority stake in Pan India Food Solutions, a holding company which as set by Everstone Capital to house the coffee chain and ice cream parlor business. They have acquired a total of 89 outlets as part of this deal and are looking to expand the coffee chain and ice cream business.
Pan India owns brands such as Spaghetti Kitchen and food courts Spoon and FoodTalk. Some of these brands are also part of the deal.The Coffee Bean and Tea Leaf is a chain of the coffee parlors that has more than 1,000 outlets in the home market of the US. It opened its first outlet in Saket, South Delhi in 2008, before expanding Pan India.
Both the premium coffee and gelato segments are under-penetrated and have growth potential in India, said Samir Kuckreja, the founder of hospitality consultancy Tasanaya Hospitality. “Haldiram’s is a popular Indian QSR chain, so there will be broad synergies in terms of support functions and administrative operations. But it would be interesting to see how a pure-play gelato and a premium coffee brand will synergize with Haldiram’s brand.”
