 "Jubilant Foodworks to acquire 10.76% stake in Barbeque-Nation Hospitality")
Jubilant Foodworks Ltd (JFL), which operates fastfood chains Domino's Pizza and Dunkin' Donuts in India, on Thursday said it will invest Rs 92 crore into Barbeque-Nation Hospitality Ltd (BNHL) for a 10.76 per cent equity stake.
"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," Jubilant Foodworks said in a regulatory filing.
The company said it will invest Rs 92 crore for acquiring the 10.76 per cent stake in BNHL.
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 across 73 cities in India and seven international Barbeque Nation restaurants (as of November 30, 2019). It also has a presence in the Italian cuisine segment under the brand Toscano.
Jubilant Foodworks Chairman Shyam S Bhartia and its Co-Chairman Hari S Bhartia said the proposed investment will create value for the company's shareholders.
BNHL had reported a total revenue of Rs 742.5 crore in 2018-19 on a consolidated basis.