Indian pizza chain owner seeks PE funding

According to LiveMint, United Restaurants wants to boost its number of outlets from 90 to 250, expanding across India, South Asia and Africa, over a period of 18-24 months. Without the help of private equity, it would take the restaurant chain around four years to achieve this goal, United Restaurants Managing Director Akbar Khwaja told the news outlet.

Private equity interest in these companies has been strong. In the first half of 2011, private equity invested more than $100 million in India's food service industry, according to Franchise India and the Federation of Indian Chamber of Commerce and Industry. Most of the money went into fast-food and mid-range restaurants. These include venues that serve up burgers and pizzas, as well as specialty restaurants.

Among the notable investments was ICICI Venture's 10% stake acquisition in Devyani International, which operates fast food chains Pizza Hut, KFC and British café Costa Coffee. That deal was closed in May for approximately $55.6 million. In July, New Silk Route Advisors closed its first Indian restaurant investment - in an unnamed restaurant holding company - for $100 million, and in August, Beacon India Private Equity and Mirah Hospitality invested in Impresario Entertainment and Hospitality, which operates fine dining restaurants Mocha and Smoke House Deli.

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• Topics
• South Asia
• Consumer
• ICICI Venture Funds Management Company
• NSR New Silk Route Partners