Lite Bite Foods in talks to sell minor stake to strategic investors
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.
Artificial Intelligence(AI)
Tabnine AI Masterclass: Optimize Your Coding Efficiency
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Mastering C++ Fundamentals with Generative AI: A Hands-On
By — Metla Sudha Sekhar, IT Specialist and Developer
Finance
Financial Literacy for Non-Finance Executives
By — CA Raja, Chartered Accountant | Financial Management Educator | Former AVP — Credit, SBI
Entrepreneurship
Marketing & Sales Strategies for Startups: From Concept to Conversion
By — Dr. Anu Khanchandani, Startup
