For all the sweet lovers out there, the India-based bakery brand Theobroma is a go-to destination for tempting desserts. The bakery offers a diverse selection of cakes, pastries, brownies, cupcakes, and more. Now, this famous bakery brand is all set to be acquired by private equity firm ChrysCapital for ₹2,410 crore.
ChrysCapital To Acquire 90% Stake Of Theobroma
ChrysCapital is a private equity firm that invests in Indian based businesses and is now all set to buy the famous bakery brand, Theobroma. According to this deal, ChrysCapital will acquire around 90% stake from current investors and promoters. It includes the ICICI venture too, which bought a 42% stake at ₹130 crore back in 2017. Promoters will retain a 10% stake.
As per The Economic Times report, the discussion to acquire Theobroma was started in March with the offer to buy it at a lower rate than the original price. This acquisition is being seen as the biggest investment in this sector. The goal behind this deal is to take a step towards India’s growth in the cafe and food business. Last year, there was news of ChrysCapital buying Belgian Waffle Co. as well, and they have already submitted their bid for the same. This firm is planning a quick-service restaurant (QSR) with popular India-based brands.
Media reports suggest that besides ChrysCapital, other businesses like Bain Capital, Carlyle, and Switz Group were also interested in buying Theobroma.
Also Read: Theobroma Debuts In Goa; First Store Now Open In Margao, South Goa
When And Who Founded Theobroma?
The famous bakery brand was founded by two sisters, Kainaz Messman Harchandrai and Tina Messman Wykes, in 2004. Before opening her bakery, Kainaz Messman Harchandrai was working at The Oberoi Udaivilas. According to India Today, the sisters received their first investment of ₹1.5 crore from their father.
Their success story started from the small bakery in Colaba, Mumbai, which grew into a pan-India chain. They named their bakery Theobroma, which means “ food of the gods.” In the beginning, the brand faced difficulties in growing their business, but in 2014, they received their first ₹5 crore loan, which made the brand the favourite among all dessert lovers across India. The bakery now has 249+ outlets all over India.
Theobroma is truly an inspiration. The brand that started with the home kitchen has now become a success story. What are your thoughts on this? Let us know in the comments below!
Also Read: No Longer A Veg Roll, Claim Redditors After Video Shows Cockroach In Paneer Roll At A Mumbai Bakery
Image Courtesy: Website/ Theobroma