Theobroma buyout spurs ChrysCapital’s $200 mn foray into India’s desserts market
“The idea is to use Theobroma as an anchor to make bolt purchases in the segment, and the investment company plans to buy about 2-3 assets,” the first person said the first person, frozen desserts and ice cream brands will be taken into consideration, he added.
The second person, “Plan is to take advantage of Theobroma’s rear end operations for other brands.” He said.
A bolt strategy allows larger companies to buy smaller businesses to expand operations, diversify offers or reach new markets.
Development comes after the private capital company purchased 85% of shares in the dessert chain last month. Traditionally, it is the first process in the field of consumer food for Chryscapital, which focuses on sectors such as medicine, health and financial services. To be sure, Chryscapital is definitely not a purchase company – therefore, it is often stuck to buy or come together with smaller bets with other companies.
Theobroma agreement has been reported to value the Mumbai -based Quick Service Restaurant (QSR) chain. La2,400 CRORE, Mint Reported in August.
Considering that Theobroma, who has the remaining 15%of the founders, believes that Theobroma is at the center of the Opportunity of Western desserts in India, it stressed how it was not planned to change the functioning of the patisserie chain to a great extent. Mint report.
Chryscapital avoided commenting on his bolt-on plans, while Theobroma did not respond immediately. MintComment requests sent on Friday.
War Fund Ready
Equipped with a new fund of $ 2.2 billion, Chryscapital, who has collected earlier this year, is discovering for assets in India that he can write larger checks and create a larger portfolio.
“QSR is an area we follow closely and there is enough examples that companies earn money in India and all over the world,” Rajiv Batra, the director of Chryscapital and the leadership of the consumer sector. He said. Mint In August.
“There is also a significant transition from Indian desserts to Western desserts, so we were looking for opportunities considering this macro trend,” he said.
Theobroma Story
Founded in 2004 by sisters Kaainaz Mesman Mesman Mortarhandrai and Tina Messman Wykes, Theobroma grew to a Pan-India Western dessert platform operating the outlets of approximately 250 plus companies in 45 cities from a single Colaba cage.
Known for cakes, cakes and patisserie, Theobroma has created a mass premium positioning in the Quick Service Restaurant (QSR) segment.
Patisserie operates central kitchens in key places that appeal to sales points. Credit rating agency Crisil forecasts, revenues grew more than about 4.5 times. La575 crore in five financial years by 2025, adding outputs, expanding product offers and increasing online sales.
However, Crisil’s June report said that Theobroma has been subjected to high competition from organized and unorganized players, which limits the pricing power and the new cities it plans to enter.
Sunday acceleration
According to the estimates of the strategy consulting firm Redseer, India’s Food Services market will grow at a compound growth rate of 10-11% in 2024 and by 2030 to 2030 and the organized sector is led to this expansion.
The report added that multi -branded companies emerged as key growth drivers that offer operational efficiency, faster scalability and diversified income flows. They can use the shared infrastructure to reduce costs and maximize the use of kitchen, and such models can allow brands to be scaled rapidly and allow many companies to reach. La100 Crore comes in 2-3 years.
The QSR sector is circulating in the last few months with the activity of making agreements. For example, he acquired a majority stake in Sky Gate Hospitality, which hosts brands such as KFC, Pizza Hut and Costa Coffee in India, which hosts brands such as Weights, Goila Butter Chicken and The Bhojan. La431.3 Crore agreement in April.
Similarly, Rebel Foods collected 25 million dollars from Qatar Investment Authority in the Bulut Kitchen chain of leading global investors (contact and KKR) from the Qatar Investment Authority earlier this year. Others Donuts, Adyar Ananda Bhavan and Wow Mad Over Donuts! Momo is also in donation collection stages.
