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Speciality Restaurants (SRL) which runs popular restaurant chains like Mainland China, Oh Calcutta, is in talks to acquire an American regional brand for its foray in quick service restaurants (QSR). SRL is already sitting on a cash surplus of around Rs 150 crore.
The discussions are in the final stages and the deal is likely to be inked in the next couple of months, said Anjan Chatterjee, founder & MD of SRL. This will be, according to Chatterjee, youth oriented joint which will offer its services at a very low price point
"There is enough space in this market that can be captured. Talks are on with an American regional brand which has got a strong brand equity and the deal should be closed in the next few months,” Chatterjee told reporters after announcing its new unit Mobifeast, which will offer outdoor catering services.
The QSR market is already full of biggies like McDonald, KFC, Domino's etc but according to the MD there is further potential to enhance this market.
SRL is betting big on the new unit Mobifeast as the company plans to turn it into a Rs 100 crore vertical in the next one year. “This is a high margin business and it is growing significantly. Going forward, we will put more thrust and focus into this segment,” he said.
Outdoor catering business has seen good growth as nuclear families and corporates are holding events, which are managed by established catering entities.
Chatterjee said, the company was evaluating JV opportunities to expand operations on the foreign soil.
“We will be present in Singapore, Central London and Gulf region. The discussions are going on and should be finalized soon,” he added. SRL plans to open around eight restaurants in the Gulf region.
The company is hoping to close this fiscal with a turnover of around Rs 250 crore and has set a target to clock in a top line of Rs 500 crore by March 2015.
