F&B Asia Ventures, a unit of private equity major Everstone Capital, is picking up 50% stake in Massive Restaurants, which runs the Indian-themed Masala Library, Made in Punjab and Farzi Cafe chain of restaurants and cafes, for an undisclosed amount. The deal enables F&B Asia Ventures to integrate its Indian restaurants business with Massive’s management. Mirah Hospitality and Zorawar Kalra, son of celebrity food writer and chef Jiggs Kalra promoted Massive seeks to enhance its presence pan India and in overseas market such as United States, United Kingdom and the Middle East. The partnership launched in 2012 operates under three three formats – a fine dining premium restaurant named Masala Library by Jiggs Kalra; a casual dining restaurant Made in Punjab, and premium sweet shop called Mithai by Jiggs Kalra.
Source:Everstone Arm Acquires Stake In Massive Restaurants
Industry: Other 2015-11-24
