Lite Bite Foods, which runs restaurant chains Punjab Grill, Street Foods, YouMee and Asia 7, has initiated talks with private equity firms and strategic investors to sell a minority stake in the company, executives with knowledge of the development said.
The company’s two promoters, Amit Burman of the Dabur family and co-founder Rohit Aggarwal, will continue to hold significant majority stake in the business, according to the executives. “Lite Bite Foods is exploring multiple options to bring in either private equity players or a strategic investor onboard. The talks are in exploratory stages,” according to one executive.
The company is looking to accelerate growth at a time when competition in the specialised dining space is heating up and investor interest has accelerated.
Aggarwal could not be reached for comments.
Lite Bite Foods began operations in 2002 and operates a mix of quick service and fine-dine brands. It runs over 200 multi-cuisine outlets, including airport stores.
The company’s consolidated revenue from operations stood at ?651 crore in FY24 according to Registrar of Companies filings sourced from financial intelligence platform Tofler. In its filings, Lite Bite Foods said it had six subsidiaries-three domestic and three overseas. The domestic subsidiaries include Lite Bite Travel Foods, Lite Bite Foods Tres and Burger Foods & Hospitality. The overseas subsidiaries include Burman Holdings Limited, Lite Bite Foods Inc and Lite Bite Foods International Limited.
Source: Economic Times