Jubilant Foodworks Limited (JFL), one of the largest foodservice companies 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.
Shyam S Bhartia, Chairman and Hari S Bhartia, Co-Chairman, Jubilant Foodworks Limited 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 create value for our shareholders.”