SKFS acquires Mirah Hospitality to grow its food services business pan-India
Food services and hospitality company SKFS Group is acquiring 100% equity in Mirah Hospitality & Gourmet-which owns restaurant brands Rajdhani, Bayroute and Hitchki-for ₹80 crore.
«We are looking to scale up the business nationally; we see this as a strategic acquisition to take forward our food services business, with fresh investments in upgradation of our existing outlets,» SKFS Group chairman Dinakara Shetty told ET. He said the group's existing business verticals «will align and synergise well» with the acquired restaurant brands.
Aji Nair, chief executive of Mirah Hospitality, said post the acquisition, Mirah Hospitality, which operates 30 outlets across its brands, will become a 100% subsidiary of SKFS Group. «We are looking to expand Mirah Hospitality pan-India and are exploring adding two new brands under the new ownership. Overseas expansion is also on the cards,» Nair said.
The ₹350-crore SKFS, cofounded by Shetty and group managing director Harish Shetty more than three decades ago, operates restaurants in hotel chains such as Marriott and Ramada, besides premium corporate catering across clubs, office complexes and hospital chains.
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