Aditya Birla New Age Hospitality Private Limited (ABNAH) has made 100% acquisition of shareholding in KA Hospitality Private Limited.
By way of this acquisition, ABNAH has added four new iconic restaurant brands - Hakkasan, Yauatcha, Nara Thai and Cincin to its growing portfolio of the premium casual dining space. KA Hospitality Private Limited has now become a wholly owned subsidiary of ABNAH.
Khaitan & Co assisted ABNAH in conducting a due diligence on the Targets and drafting, reviewing, negotiating, and finalizing various transaction documents. The Firm also advised in relation to fulfilment of conditions precedent to the transaction, from a legal perspective.
The core team consisted of Shourya Sengupta (Lead Partner), Sneh Lata (Principal Associate), Sruti Baid (Principal Associate) and Vibhav Seth (Associate) with assistance from the following:
Structuring advisory: Shabnam Shaikh (Partner)
Diligence Team: Shramana Dwibedi (Associate) and Joysurjo Roy (Associate).
Intellectual Property: Shailendra Bhandare (Partner), Sourav Dan (Principal Associate) and Kinjal Parikh (Associate).
Shardul Amarchand Mangaldas & Co advised KA Hospitality in this deal.
The deal team was led by Roopal Kulsrestha (Partner), Meghna Nachappa (Principal Associate), Jatin Sharma (Associate) and Pratiti Shah (Associate).
The advisory team was led by Divi Dutta (Partner), Punya Varma (Principal Associate), Anumeha Karnatak (Senior Associate), Mohona Thakur (Senior Associate), Veda Handa (Senior Associate), Asmita Hegde (Associate), Harsh Sahu (Associate) and Navya Mehrotra (Associate).
Strategic guidance was provided by Akshay Chudasama (Managing Partner).
KPMG advised KA Hospitality Private Limited on the tax aspects.
ABNAH currently operates Jolie’s, a members-only club comparable to the best in the world and spanning across ~30,000 square feet at Worli, in the heart of Mumbai. ABNAH is planning to build premium casual dining restaurant chains across India, a fast-growing segment in the organised food services market.
KA Hospitality Private Limited, is engaged in the business of inter alia food and beverages in the premium casual dining space, and owns the home-grown brand CinCin and franchise rights of the other three global restaurant brands.
The four brands are positioned across the customer value pyramid, spanning the mid-market to premium segments. Hakkasan is a Michelin-starred brand serving modern Cantonese food. Yauatcha is an award-winning dim sum teahouse from London. Nara Thai is a contemporary brand that captures the essence of authentic Thai cuisine. CinCin is a modern Italian brand, designed to reflect the vibe and culture of the Italian “La Dolce Vita” lifestyle.
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