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Future Group and its private equity arm Indivision India Partners have picked up a controlling 50% plus equity stake in the multi-cuisine lifestyle restaurants chain, Blue Foods through a structured transaction deal.
The new promoters have merged Pan Foods Solutions — a JV between Pantaloon Retail and Blue Foods — with Blue Foods. The deal was concluded a week ago, sources told ET.
Indivision is an arm of Future Capital Holdings (FCH). Blue Foods's flagship brands include Copper Chimney, Bombay Blue, Noodle Bar, Gelato Italiano, Spaghetti Kitchen, Cream Centre and a franchisee agreement with the California-based coffee chain, Coffee Beans & Tea Leaf.
When contacted, Kishore Biyani, CEO of Future Group, said: “We cannot disclose the financial details of the deal. This deal essentially means that we are looking at a larger play in the casual dining and food service business.”
Editor| I mentioned at the ET site, that this is good from the perspective of expansion & real estate for Blue Foods.
My only concern or something that I perceive as a challenge for Future group is keeping the passion alive. they seem to be in so many verticals and from what I know a lot of JVs are not working as smoothly as they would expect them too!
On the other hand, awesome food at all the malls!!