Aditya Birla Group’s hospitality arm, Aditya Birla New Age Hospitality (ABNAH) has acquired a 100% stake in KA Hospitality Private Limited (KAH), the company that owns the home-grown brand CinCin and franchise rights of the other three global restaurant brands.
With the deal, it will add four restaurant brands, including Michelin starred Hakkasan, the award winning Yauatcha and Nara Thai to its portfolio. The four brands are positioned across the customer value pyramid, spanning the mid market to premium segments, the company said. Hakkasan is a Michelin-starred brand serving modern Cantonese food. Yauatcha is an award-winning dim sum teahouse from London. The company said CinCin is designed to reflect the vibe and culture of the Italian lifestyle.
Aryaman Vikram Birla, director, Aditya Birla Management Corporation Private Limited and founder, ABNAH said the company continues to believe in the remarkable potential of the premium casual dining space, spurred by rising disposable income and evolving lifestyles of the Indian consumer.
“The intersection of growing affluence and the desire for new-age, high-quality dining experiences presents an incredible growth opportunity. At Aditya Birla New Age Hospitality, our vision is to create an unmatched portfolio of food and beverage brands within the country, and bringing the best-in-class restaurants to discerning diners is a crucial step towards fulfilling that vision,” he added.
He said the plan is to broaden the reach of these brands and take these distinctive dining experiences to other cities across India.
KA Hospitality was founded by the late Kishor Bajaj in 2011, and he introduced Hakkasan and Yauatcha to Mumbai. Karyna Bajaj took over as executive director in 2016 and brought in Nara Thai besides creating the homegrown brand CinCin. “Over the span of 12 years, we have nurtured our family business with unwavering commitment. It is with great pride that we now pass the baton to ABNAH, to uphold and elevate the legacy of KA Hospitality,” she added. ABNAH currently operates Jolie’s, a members-only club in Worli, Mumbai. The company is planning to build premium casual dining restaurant chains across India. With this acquisition, ABNAH has added seven restaurants to its portfolio across three cities.
Source: Economic Times