Jubilant FoodWorks, which owns the franchise of Domino’s Pizza and Dunkin’ Donuts within the nation, on Thursday mentioned that it will likely be buying a ten.76 per cent stake in Barbeque Nation Hospitality Ltd (BNHL) by investing Rs 92 crore.
“This is to inform you that Jubilant Foodworks Limited (“Company”) has entered right into a Share Subscription Agreement and Restated Shareholders’ Agreement to amass 10.76% stake in BarbequeNation Hospitality Limited,” Jubilant FoodWorks knowledgeable in a submitting to the inventory exchanges.
The firm will purchase 36,50,794 absolutely paid up fairness shares of face worth of Rs 5 every aggregating to 10.76 per cent stake in BNHL. The acquisition is more likely to be accomplished by January 25, 2021, the assertion mentioned.
“We are happy to announce our investment in Barbeque Nation – a differentiated, casual dining restaurant brand of scale with strong unit economics. We are confident that the proposed investment will create value for our shareholders,” Shyam S Bhartia, Chairman and Hari S. Bhartia, Co-Chairman, Jubilant Foodworks mentioned within the assertion.
BNHL operates Barbeque Nation an Indian delicacies, informal eating restaurant model which launched the idea of reside grilling of Kebabs to the Indian market. It owns and operates 138 Barbeque Nation Restaurants in 73 cities in India and seven International Barbeque Nation Restaurants (as of 30 November 2019). It additionally has a presence within the Italian delicacies phase underneath the model Toscano.
Shares of Jubilant FoodWorks settled at Rs 2,798.00 apiece on the BSE, up 4.34 per cent.
