Jubilant FoodWorks, which owns the franchise of Domino’s Pizza and Dunkin’ Donuts in the country, on Thursday said that it will be acquiring a 10.76 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 into a Share Subscription Agreement and Restated Shareholders’ Agreement to acquire 10.76% stake in BarbequeNation Hospitality Limited,” Jubilant FoodWorks informed in a filing to the stock exchanges.
The company will acquire 36,50,794 fully paid up equity shares of face value of Rs 5 each aggregating to 10.76 per cent stake in BNHL. The acquisition is likely to be completed by January 25, 2021, the statement said.
“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 said in the statement.
BNHL operates Barbeque Nation an Indian cuisine, casual dining restaurant brand which introduced the concept of live grilling of Kebabs to the Indian market. It owns and operates 138 Barbeque Nation Restaurants in 73 cities in India and 7 International Barbeque Nation Restaurants (as of 30 November 2019). It also has a presence in the Italian cuisine segment under the brand Toscano.
Shares of Jubilant FoodWorks settled at Rs 2,798.00 apiece on the BSE, up 4.34 per cent.
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