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Carnation’s new INR 250 crore war chest for growth via acquisition


Is committing INR 250 crore over for a five year plan it hopes will expand its bouquet of food and beverage brands making it a top player in India’s super hot restaurant and foodservice sector.

Sanjay_Chhabra“The investment will be funded through internal accruals and funds from the promoters,”said Sanjay Chhabra, managing director of Carnation Hospitality, which is the wholly-owned subsidiary of consumer packaging company Rollatainers.

Part of this is plan its recently acquired rights to operate F&B outlets at metro stations in Delhi as others across India. “This space is interesting as it generates huge footfalls for the brands,” he added.

Since Rollatainers created its SPV Carnation Hospitality, it acquired existing coffee chain Barista for INR 100 crore and there’s more acquisitions coming up.

Some of its INR 250 crore war chest has already been allocated to bringing life back into Barista with a major revamp of its stores and expansion to grow from 190 to 550 store over three years.

Carnation also has homegrown brands like Kylin, a chain of casual dining restaurants and Mapple foods business, a food supplier to corporates, which have existed for over a decade. The traget for Kylin is 100 store by 2020, a massive increase from just eight right now.

For Wendy’s, the first store which open recently, the aim is to achieve 150 outlets, again by 2020. “We are targeting the malls and high streets and in the first phase we are expanding in Delhi by this fiscal year and then moving to markets like Mumbai, Bengaluru and Hyderabad,” said Chhabra.

Next month, Carnation will also open the first outlet of Jamie’s Italian, the Italian restaurant brand owned by celebrity chef Jamie Oliver, in Delhi, preceded by the launch of Jamie’s Pizzeria this month September.

Source: Economic Times

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