KKR invests in Rebel Foods valuing the cloud kitchen brand at around $800 million
Private equity major KKR has acquired a stake in Mumbai-based Rebel Foods, the parent company of Faasos, Behrouz Biryani, and other cloud kitchen brands, according to a company statement. The investment was made through a secondary share purchase transaction and follows Singapore’s sovereign fund Temasek-led $210 million (approximately Rs 1,782 crore) funding round announced on December 12.
KKR has not disclosed the size of its investment.
A significant portion of the latest financing round comprises secondary share sales, conducted at a lower valuation of around $750-800 million. In contrast, the primary funding infusion was executed at a flat valuation of $1.4 billion. While secondaries are typically done at a discount to the last primary valuation, this transaction reflects a steep discount of approximately 50%.
The Competition Commission of India (CCI) has approved investments from both KKR and Temasek.
Rebel Foods' existing investor, Evolvence, also participated in this round.
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