Blue Tokai Coffee gets a Verlinvest flavour
Verlinvest, investment vehicle of the Belgian family behind the world’s largest brewer, AB-Inbev, is poised to invest Rs 200 crore (about $24 million) in Blue Tokai Coffee Roasters, at a Rs 1,200-crore ($143 million) valuation — double that from a year-and-a-half ago, said people in the know.
Existing investor Hemendra Kothari’s family office and Anicut Capital are also expected to join the homegrown specialist coffee chain’s Rs 250-crore round, with the residual amount comprising a mix of primary and secondary sale of shares, the people said.
The round will be the 11-year-old company’s largest raise, as a battle brews between some of India’s top business houses and upstarts.
Announcement Soon
Global giants such as Starbucks and Tim Hortons are also competing in this fast-growing industry.
A formal announcement on the transaction is expected as early as this weekend, the people said.
Verlinvest didn’t immediately respond to ET’s queries. Matt Chitharanjan, cofounder of Blue Tokai, did not comment.
In January 2023, Blue Tokai raised Rs 200 crore from A91 Partners in a Series B round, which also saw investment banker Kothari come in at a Rs 600-crore valuation, post-money.
Earlier this year, 12 Flags Group, a consumer fund set up by former Reckitt Benckiser global chief Rakesh Kapoor, joined the cap table at a Rs 1,000-crore valuation.
Blue Tokai is also backed by Bollywood actress Deepika Padukone, Kirloskar family office Snow Leopard Ventures, Negen Capital, Mauryan Capital and White Whale Venture.
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