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Jubilant FoodWorks rose 3.35% to Rs 2771.65 after the fast-food chain operator announced an investment of Rs 92 crore into Barbeque-Nation Hospitality for an equity stake of 10.76%.
Barbeque-Nation Hospitality operates Barbeque Nation (BBQ) an Indian cuisine, casual dining brand which introduced the concept of live grilling of Kebabs to the Indian market. It owns and operates 138 Barbeque Nation Restaurants in 73 cities in India and 7 International Barbeque Nation Restaurants (as of 30 November 2019). It also has a presence in the Italian cuisine segment under the brand, Toscano.
Barbeque-Nation Hospitality had a consolidated turnover of Rs 742.5 crore in FY 2018-19.
Commenting on the development, Shyam S. Bhartia, chairman and Hari S. Bhartia, co-chairman, of Jubilant Foodworks said, We are happy to announce our investment in Barbeque Nation - a differentiated, casual dining restaurant brand of scale with strong unit economics. We are confident that the proposed investment will
Jubilant Foodworks invests in Barbeque Nation
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Jubilant FoodWorks Ltd. (JFL), has announced an investment of ₹92 crore in Barbeque-Nation Hospitality Ltd. (BNHL) for an equity stake of 10.76%. “Towards this end, the company has entered into a Share subscription agreement to acquire equity shares and a restated shareholders’ agreement to regulate the rights and obligations of BNHL’s key shareholders,” JFL said in a regulatory filing.
BNHL operates 138 Barbeque Nation Restaurants in 73 cities in India and 7 International Barbeque Nation Restaurants (as of 30 November, 2019).
It also has a presence in the Italian cuisine segment under the brand, Toscano.
Jubilant Foodworks Limited to invest Rs. 92 crores in Barbeque-Nation Hospitality Limited for a 10.76% stake
Posted On: 2020-12-31 02:52:04 (Time Zone: Arizona, USA)
Jubilant Foodworks Limited (JFL), the largest foodservice company in India, today announced an investment of Rs. 92 crores into Barbeque-Nation Hospitality Limited (BNHL) for an equity stake of 10.76%.
Towards this end, the Company has entered into a Share Subscription Agreement to acquire equity shares and a Restated Shareholders Agreement to regulate the rights and obligations of BNHL s key shareholders.
BNHL operates Barbeque Nation (BBQ) an Indian cuisine, casual dining Brand which introduced the concept of live grilling of Kebabs to the Indian market. It owns and operates 138 Barbeque Nation Restaurants in 73 cities in India and 7 International Barbeque Nation Restaurants (as of 30 November, 2019). It also has a presence in the Italian cuisine segment under the brand, Toscano.