India Equity Partners buys restaurant chain Sagar Ratna Hotels
India Equity Partners, a New York-based private equity fund, has purchased a majority stake in specialty restaurant chain Sagar Ratna Hotels for INR1.8 billion ($40.2 million). The capital will be used to refurbish its existing branches and aggressively expand its restaurant network.
According to The Economic Times, Sagar Ratna specifically wants to revamp its 70 restaurants, mainly in Northern India, as well as open 200 more branches within four years. Sagar Ratna specializes in South...
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